The impact of hosting an Ashes test can be seen in stark figures as Warwickshire County Cricket Club posted a loss for 2024.
Tens of thousands of cricket fans descended on Birmingham in June 2023 for the first, five-day test of the series between England and Australia at Edgbaston stadium.
A statement from the club admitted that the huge boost to its coffers provided by that match in 2023 contributed to a £7.6 million drop in revenue and a pre-tax loss the following year.
The annual financial report for the year to December 31, 2024, showed turnover fell to £25.1 million while pre-tax profit dropped from £2.93 million in 2023 to a loss of £711,271.
Announcing the results today, a club statement said this "was anticipated following a sold out Ashes Test" the previous summer.
The club's 2023 financial report also covered 15 months instead of the usual 12 which has added to the drop in figures while more than £14 million has also been wiped off its debts.
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Looking ahead to the coming year, Warwickshire said it was expecting a positive summer for sales as it welcomed big matches to the famous stadium including England's one-day international against the West Indies at the end of May and a test match against India in July.
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England women's IT20 test against India is coming to Birmingham in July and the T20 Blast Finals Day will once again be held at Edgbaston in September.
Strategy director Craig Flindall said: "Income and earnings are principally driven by the attractiveness of our 'Major Match' programme which is built into our long-term forecasting.
"The test match here against the West Indies last summer also finished in under three days which resulted in lower hospitality and catering revenue.
"However, there was lots to celebrate, not least the introduction of a new tournament at Edgbaston - The World Championship of Legends.
"This was successful financially, attracted new audiences and also showed that we can still focus on cricket yet diversify in order to reduce our reliance on test match revenues.
"The legends event returns this summer and we expect it to keep growing year on year after a very positive start.
"Revenue also grew from commercial sponsorship deals with our key partners who continue to provide loyal support to the Warwickshire and Edgbaston brands.
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"Those partnerships are expected to gain even greater strength with the addition of the Bears Women in 2025."
Earlier this year, Birmingham City FC's owner Knighthead Capital Management entered cricket by bidding in The Hundred team Birmingham Phoenix - with Warwickshire CCC retaining the other 51 per cent.
The contracts on this are due to be signed by the end of the summer.
Writing in the annual report, chairman Mark McCafferty said the full changes resulting from this external investment would become clearer this year.
"Without doubt, the major financial opportunity it will provide to re-set.....will put us in position to secure a very bright future. Some of the financial benefit will be evident soon as we progress to the next phase of development to Edgbaston stadium."
This work includes the rebuilding of the Raglan and Priory stands with an integrated Radisson Red hotel which received planning approval from Birmingham City Council in February.
Work is due to start in September and be ready in time for the men's Ashes Test in summer 2027. More than £200,000 has also been spent on creating a new high-performance area for Bears Women.
Away from on-field activities, Edgbaston stadium continues to be one of the city's most popular conference and event venues.
The club said this department's turnover surpassed the £3 million mark for the first ever time, welcoming 52,000 delegates to non-match day events.
In October, a drone light show was held as a more environmentally friendly alternative to the traditional Bonfire fireworks display while December was the most successful month of 2024 after ten Christmas party nights were hosted.
Mr Flindall added: "Overall, the club's financial position remains healthy and group debt was also significantly reduced, down £3.3 million to £17.7 million, following further loan repayments to Birmingham City Council and England and Wales Cricket Board."