Australia has been facing a financial crisis due to the ongoing Coronavirus Pandemic. In order to battle this financial crisis, the Australia Cricket has laid off its staff till June 30th but remained hopeful of the T20 World Cup in October- November & also hopes about the India tour being held on schedule.
Australia Cricket had earlier delayed the announcement of central contracts for its players amid the financial hit economy caused by the Pandemic. Players have also spoken about the possibility of pay cut looking at the current Pandemic situation.
The Australian financial year starts on July 1st and ends on June 30 this means that the employees are laid off for a period of two and a half months during which it is impossible to have any sporting activity with no chances of the situation getting normal.
“We have taken this decision during the period of isolation when all the activities have been reduced then we have decided to stand down our people on reduced pay effective from 27 April for the remaining financial year”, CA said in a statement. This decision was conveyed to the staff by the Chief Executive Kevin Roberts.
“The impact of Coronavirus Pandemic on the sports industry is bigger than any other industry”, said CA. We are aware of the impact of the financial crisis on Australian cricket and we are working hard to manage this loss proactively”, the CA added.
While lots of speculations are made that the IPL which has been postponed for the time being might take the T20 World Cup’s slot but CA told that the Host country is ready to conduct the World Cup event in closed stadiums if the situation demands it. The CA admitted that there has been major financial loss due to the pandemic.
“Even though CA was able to complete a bulk of its 2019-2020 season before the coronavirus hit the economy, the downturn has resulted in the indefinite postponement of cricket and other sports activity across the globe, which has disrupted commercial partners and other revenue streams”, it stated.
“CA remains optimistic about the events scheduled later in the year. The men’s and women’s home summer is scheduled to begin along with the men’s T20 World Cup in October and November even in empty stadiums in order to follow social distancing restrictions and rules”, it added.
“CA has followed the Australian Football League and National Rugby league in order to lay off the workforce till June 30 till the current situation gets improved and the people and the sports events can be conducted with utmost safety”, he stated.