Contents


 

Report of the Directors

The directors present their report on the results of Cricket Australia for the year ended 30 June 2016.

Principal activities

The principal activity of Cricket Australia is to promote and administer the game of cricket in Australia.

Form of entity and place of business

Cricket Australia, incorporated in Victoria, is a company limited by guarantee. Under its constitution, the liability of members is limited to $1,000 per member. At the date of this report, Cricket Australia’s registered office – and principal place of business – is located at 60 Jolimont Street, Jolimont, Victoria.

Review of operations and results

Under the Australian Cricket Financial Model, Cricket Australia receives all gate and signage revenue from international matches and distributes revenue to States under the minimum guarantee. This simplified model de-risks States against volatile movements in gate revenue due to the timing and duration of matches, weather and the competitiveness of touring teams. The basis of operations of Cricket Australia did not alter significantly during the 2015/2016 year with the underlying revenue streams and subsequent expenditure from operating activities both down on prior year, mainly due to reduced international media rights revenue (as it is dependent on the touring teams, as stipulated by the International Cricket Council Tours Programme), meaning that subsequently the players share of revenue was down on prior year also.

With its vision to be Australia’s favourite sport, a sport for all Australians, Cricket Australia continued to promote and administer the game of cricket in Australia, including the men’s and women’s Australian Cricket Teams, the Bupa Sheffield Shield, the Matador BBQs One-Day Cup, the KFC Big Bash League and rebel Women’s Big Bash League, and was also responsible for the development and marketing of the game in Australia.

The net result of operations for the year ended 30 June 2016, after distributions to State Associations of $106,259,550 (2015: $106,002,709) was a net surplus of $9,701,628 (2015: surplus $98,665,494). The reduction in net result for the year ended 30 June 2016 was predominately driven by the Cricket World Cup (CWC) host net profit recognised in the 2014/15 financial year and reduced international media rights revenue in the current year as noted above.

Significant changes in state of affairs

There were no significant matters affecting the state of affairs of Cricket Australia which occurred during the financial year.

Events after end of financial year

There is at the date of this report no matter or circumstance which has arisen since 30 June 2016 that has significantly affected, or may significantly affect the operations of Cricket Australia, the results of those operations, or the state of affairs of Cricket Australia in financial years subsequent to 30 June 2016.

Future developments and results

The directors are not aware of any likely developments at this time that would affect the operations of Cricket Australia.

Environmental regulation

The operations of Cricket Australia are not subject to any particular or significant environmental regulations under Commonwealth, State or Territory law.

 

Information on directors

The following persons held office as directors of Cricket Australia at any time during the year and up to the date of this report.

Director Cricket Australia Experience Special Responsibilities
T T Harrison (appointed 11 October 2002) 14 Years Remuneration Committee
M A Taylor AO (appointed 3 June 2013, first tenure 13 September 2004 to 25 September 2012 ) 11 Years
E R Eddings (appointed 1 September 2008) 8 Years Remuneration Committee

Audit and Risk Committee

Nominations Committee

J C Hey (appointed 25 October 2012) 4 Years Audit and Risk Committee, Deputy Chair

Nominations Committee, Chairman (retired 29 October 2015)

D A Peever (appointed 25 October 2012) 4 Years Cricket Australia, Chairman (appointed 29 October 2015)

Cricket Australia, Deputy Chairman (appointed 2 May 2014)

Remuneration Committee, Chairman

Nominations Committee, Chairman (appointed 30 October 2015)

M K Tredenick (appointed 18 November 2015) 7 Months Audit and Risk Committee

Remuneration Committee

R L Every AO (appointed 20 November 2015) 7 Months
J Harnden AM (appointed 15 April 2016) 3 Months

The following persons held office as directors of Cricket Australia from the beginning of the year until the date of their retirement:

Director Cricket Australia Experience Special Responsibilities
W J Edwards
(appointed 20 September 1996, retired 29 October 2015)
20 Years, 1 Month Cricket Australia Chairman (appointed 28 October 2011)

Remuneration Committee

J C Bannon AO
(appointed 25 November 2008, retired 13 December 2015)
8 Years, 1 Month
M S Kasprowicz
(appointed 9 August 2011, retired 18 May 2016)
4 Years, 9 Months Audit and Risk Committee
K J Roberts
(appointed 25 October 2012, retired 28 September 2015)
2 Years, 11 Months Audit and Risk Committee

 

Meetings of Directors

The number of Directors’ meetings held (including meetings of Committees and Directors) and the number of meetings attended (while a Director) by each of the Directors of Cricket Australia during the financial year are:

Full meeting of Directors (incl teleconferences) Audit and Risk Committee* Nominations Committee Remuneration Committee
Meetings held (H) whilst a Director and attended (A) H A H A H A H A
W J Edwards
(retired as Chairman 29 October 2015)
6 6 3 3
R Every AO 5 5
J C Bannon AO 8 6
E R Eddings 12 12 4 4 10 10 4 4
T T Harrison 13 13  4 4
J C Hey 13 13  4 4  10 8
M S Kasprowicz 12 12 1 1
D A Peever
(appointed Chairman 29 October 2015)
13 12 6 6 4 4
K J Roberts 3 3 1 1
J Harnden AM 2  2
M A Taylor AO  13  9
M Tredenick 5 3 1  0

Company Secretary

The Company Secretary is Ms Christine Harman, General Counsel & Company Secretary. 

*Mr John Davies is Chair of the Audit and Risk Committee and is an independent consultant and non-director.

 

Report Signatories

Melbourne
16 September 2016Report Signatories

D A Peever
Chairman, Cricket Australia

J C Hey
Director, Cricket Australia

 

Auditor’s Independence Declaration

Independent Auditor's Declaration

[Text of declaration:]

As lead auditor for the audit of Cricket Australia for the year ended 30 June 2016, I declare that to the best of my knowledge and belief, there have been:

  1. no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and
  2. no contraventions of any applicable code of profession conduct in relation to the audit.

Andrew Cronin
Partner
PricewaterhouseCoopers

Melbourne
16 September 2016