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Lancashire boast big profits for 2019

The Red Rose made a net figure of £5million last year.

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Lancashire boasted record financial figures for 2019 (Mike Egerton/PA)

Lancashire boasted record financial figures for 2019 (Mike Egerton/PA)

Lancashire boasted record financial figures for 2019 (Mike Egerton/PA)

Lancashire have announced a profit of £5million for 2019, underlining the county’s strong financial position heading into the ongoing coronavirus pandemic.

The Red Rose enjoyed bumper incomes of £17.5m from hosting international cricket during last year’s World Cup and Ashes, and also £8.4m from conferencing and events.

The club’s turnover of £34m represents a record and is up £20m from the comparative figure just five years ago.

For the first time since 2010 Lancashire’s cash reserves are in the black, to the tune of £1.7 million. Emirates Old Trafford looks set to be a key part of any international summer schedule for the England team, with the on-site Hilton Hotel making it an attractive venue for the England and Wales Cricket Board’s bio-security plans, alongside the Ageas Bowl.

Lancashire and Surrey are the only two first-class counties who have not furloughed players since the start of the season was delayed.

Chief executive Daniel Gidney, said: “Clearly, these are now tough times as the club navigates its way through the current Covid-19 pandemic, but these results at least help relieve that financial burden.

“2019 was a landmark year for the club when years of investment in talent and the infrastructure of Emirates Old Trafford was rewarded and truly reflected in our financial results.”

PA