Cricket Australia Secures USD 50 Million Loan for the Border-Gavaskar Trophy
Follow Us
The cricketer board of Australia, Cricket Australia is under massive financial crises owing to the coronavirus outbreak.
The COVID-19 pandemic has badly affected the game of cricket all across the globe. Many series and tournaments have been either canceled or suspended indefinitely. As a result, cricket boards are facing huge losses. The worst-hit is Cricket Australia. The Australian board is not able to cope up with the situation and can face major losses.
The board is all set to lose 300 million Australian dollars due to the pandemic. As a result, it has decided 80 percent lay off for all its staff. CEO Kevin Roberts confirmed that around 200 staff personnel will be on 20 percent salary till the end of June. There are rumors that Cricket Australia can run out of cash by August if the situation remains the same.
ADVERTISEMENT
Article continues below this ad
Cricket Australia gets the insurance for India’s tour
ADVERTISEMENT
Article continues below this ad
CA’s only hope in these tough times is the lucrative test series with India. Australia has to host India for the Border-Gavaskar Trophy in December-January. Also, India will be playing an ODI and T20 series with the hosts. The Indian tour will bring in huge financial benefits for the board.
However, the India tour of Australia is in danger due to the coronavirus scare. The Australian government has imposed a 6 six month travel ban in the country. Though exceptions can be there for the Indian team as it will give a push to the economy.
Trending
‘Fu*in Clowns’: Martin Truex Jr Urges Joe Gibbs to ‘Find a New Fu*in Driver’ in Fiery COTA Rant
March 27, 2024 06:09 PM EDT
After Deion Sanders Jr.’s Shiny $79K Purchase, Shedeur & Shilo Follow Their Brother’s Footsteps to Flaunt New Beast
March 26, 2024 01:13 PM EDT
What Does Danielle Collins’ Boyfriend Do? Everything to Know about Their Lowkey Relationship
February 15, 2024 11:39 AM EST
Brock Lesnar Seemingly Teased in Dwayne ‘The Rock’ Johnson & Cody Rhodes RAW Segment Amid WrestleMania XL Return Rumors
March 28, 2024 06:51 AM EDT
“Beast Is Coming”: Brock Lesnar WrestleMania XL Return Expected Online After Rumored Reference During Dwayne ‘The Rock’ Johnson & Cody Rhodes Fight
March 28, 2024 07:30 AM EDT
Get instantly notified of the hottest stories via Google! Click on Follow Us and Tap the Blue Star.
Follow Us
As a precaution measure, Cricket Australia (CA) has secured USD 50 million loans, an upfront amount of the USD 200 million credit. According to ‘The Sydney Morning Herald’, stakeholders have been informed that the loan with the Commonwealth Bank is a “done deal”.
ADVERTISEMENT
Article continues below this ad
The T20 World Cup 2020 is also scheduled in Australia in October-November. The tournament most likely will be postponed for a few months to provide a safe playing environment. Also, the players will need time to get back in the form after such a long break.
Written by: