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New Zealand Cricket has announced a preliminary deficit of $7.3m for the financial year ending 31 July 2026, a material change from the budget forecast deficit of $1.8m.
The variance is primarily attributed to NZC budgeting for revenue from a multi-year domestic broadcast contract which had already been received in previous financial years.
A reduction in income following changes to NZC’s partnership with Dream11, prompted by changes to India’s gambling laws, together with an increase in NZC’s overall costs, also contributed to the deficit.
NZC CEO Geoff Allott acknowledged the situation was disappointing, but believed the game was still in good financial health.
“As an organisation we accept that this financial performance isn’t good enough, nor is it sustainable,” he said.
“It’s important that we own this updated budget deficit and immediately put in place the necessary steps to adjust and ensure it doesn’t happen again.
“To be clear, NZC had received all the broadcast revenue it should have, it is not lost income.
“Thankfully, the coming financial year is set to be more prosperous, with net projections forecasting a surplus in excess of $10m, driven largely by the broadcast and commercial revenue generated by the in-bound tour by India.
“That being said, we are acutely aware that as a business our financial model over a four-year cycle is typically lumpy, so we need to be prudent to ensure the long-term sustainability of cricket.”
The $7.3m deficit remains subject to completion of NZC’s annual audit expected in early November, which includes a transition to GAAP-compliant Public Benefit Entity (PBE) Financial Reporting, and the final position may differ from this preliminary figure.
Allott confirmed a range of measures NZC had undertaken in response to the updated budget deficit, including a full review of internal financial processes, a reassessment of budgets for the coming financial year, as well as a proposed reduction to the broadcast schedule and associated costs for the final season of the Super Smash.
Following consultation with the Major Associations and the New Zealand Cricket Players Association, Allott outlined a plan for 24 of the 64 Super Smash matches to be broadcast across 12 double-header match-days, including the finals, in the competition’s traditional December-January window.
Allott said NZC was currently in discussions to ensure the proposed 24 matches remained free-to-air in New Zealand, following the conclusion of TVNZ’s broadcast rights agreement last season.
“The loss of Super Smash title sponsor Dream11, coupled with the FY26 budget deficit, meant this was the most financially responsible decision for the competition.
“Our support and commitment to the community game, as well as the players and fans, remains a key priority and we’re confident that we are taking a considered and responsible approach in the circumstances.
“Further, our entire organisation is focused on delivering an unforgettable India men’s tour to start the summer and ensuring we maximise the incredible opportunity it presents.”
The full Super Smash schedule is set to be released next month.