Sussex say finances 'strong' despite deficit in 2014 accounts

Hove County Ground
Sussex finished third in Division One of the County Championship in 2014

Sussex say their financial position is 'strong' despite a deficit of £418,000 for the financial year to October 2014.

The Hove side recorded an operating surplus of £122,000, but depreciation of assets led to the overall loss.

"These results reflect well on the hard work of our chief executive Zac Toumazi and his team," chairman Jim May said.

"These figures are a notable improvement, especially as we had benefitted in 2013 from significant income from a match against Australia."

The figures follow a year in which Sussex finished third in Division One of the County Championship, but suffered group-stage exits in both the T20 Blast and One-Day Cup competitions.

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May explains Sussex financial results

In their previous accounts, the club posted an operating loss of £65,000, and an overall deficit of £630,000, which was again due to depreciation.

Sussex saw their operating income rise by £300,000 to £5.7m in 2014, largely because of improved commercial and sponsorship deals.

"It is also a strong performance given we believe that the new domestic match schedule in 2014 cost us over £100k of lost income," May added.

"The most significant contribution to our financial upturn was from our commercial team, helped by two major new shirt sponsors. Our catering and events team saw improved sales and margins.

"Sussex remains in strong financial shape with no debt and had cash of over £1m at year end."

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