Cricket: Big surplus for NZ Cricket

New Zealand Cricket might be embroiled in a potential coaching crisis but at least the finances will not add to the organisation's challenges.

Hours after it was claimed senior players wanted head coach Andy Moles replaced, the NZC's annual general meeting reported an operating surplus of $6.84 million after distributions.

India's visit here earlier this year was pivotal in NZC producing a surplus.

"With India touring during the past summer it was a key year for New Zealand Cricket," said chief executive Justin Vaughan.

"The tour was a resounding success for the game and was also important for the commercial return it provided."

The revenue generated by the tour enable NZC to increase their financial distributions to member associations.

The NZC's annual report said revenues for the 2008-09 year were $55.99 million compared to $32.24 million for the previous year.

Outside the Indian tour, increased revenues from the International Cricket Council events and foreign currency gains boosted the bottom line.

Expenditure, excluding grants to associations, was $36.37 million compared to the previous year of $29.33 million the increase attributed to increased insurance costs, higher commissions on broadcasting rights and greater spending on New Zealand A, emerging players and under-19 tours.

About $12.19 million will be shared by the associations, a 26 per cent increase on 2007-08.

NZC operates on a four-year cycle due to variations in revenue over that period and forecasts a surplus with the current cycle ends on May 31, 2010.

Meanwhile, Auckland cricket stalwart Denis Currie was named as NZC's new president, replacing Don Neely at the end of his three-year term.

The NZC board also appointed two new directors - broadcaster Bill Francis and former High Court Judge Sir John Hansen.

They replace Steve Riddell and Currie, who was not available for re-election.

Stuart Heal, who joined the board last year after Sir John Anderson's retirement, was reappointed.

- NZPA