New Zealand Cricket announces $23.7 million surplus revenue

2015 has been a good year for the Kiwis – an year that saw them playing a World Cup final

New Zealand Cricket (NZC) have filed a 23.7 million surplus for the financial year 2014-2015, reports ESPNcricinfo. The report came after the annual general board meeting held in Wellington on Thursday. The rise in revenue can be attributed to the World Cup that New Zealand co-hosted with Australia.

The past year can be considered more than inspiring for NZC – having shown much improvement in their on field performance, this boost in their revenue certainly asserts that NZC is heading in the right direction.

NZC chief executive David White applauded the achievements; however, he also commented that because of the funding model of International Cricket Council, NZC has to face hard times for the next two to three years. NZC have also predicted a loss of $5 million for the year 2015-16.

"The 2015-16 surplus is critical for NZC in terms of our long-term viability, especially with the next two of three years promising to be financially demanding," White said. "Having said that, I'm delighted to report that NZC has achieved, or is in the process of achieving all our Cricket World Cup legacy goals, including improving the playing infrastructure, growing attendances and viewership numbers, and improving participation numbers - especially at junior level."

New Zealand cricket team’s profile has soared: NZC

The chairman Stuart Heal also praised the team stating that the performance of the NZC has boosted the enthusiasm for cricket in New Zealand. He said, “Seldom has cricket in New Zealand been celebrated in the way it has over the past twelve months.

"In reaching the Cricket World Cup final - and soaring up the Test and ODI rankings, the BLACKCAPS helped lift the profile of cricket to unprecedented heights, and create for us an excellent springboard into the future. We are noticing a profound upturn in interest in cricket.

"The WHITE FERNS' success in winning crucial Women's World Championship points against England, India, and more recently Sri Lanka, has only reaffirmed cricket as a game for all New Zealanders."

Martin Snedden, Don Mackinnon and Geoff Allott were reappointed as directors and Stuart Heal has come back as the board chairman.