New Zealand Cricket (Inc.) Annual Report

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BUSINESS of cricketNew Zealand Cricket (Inc.) Annual Report30S Goodenough“Build a strong and sustainablecommercial base for cricket inNew Zealand.”NZC Strategic Plan
BUSINESS of cricket31Financial ResultThe 2004/05 financial year was the third year of NZC's four yearfinancial cycle. NZC operates a four year cycle to cope with thefluctuating nature of revenues received between World Cups. In someyears revenue is significantly higher due to NZC's participation ininternational cricket tournaments and in other years, revenues aresignificantly reduced due to lower overseas broadcasting income frominbound tours.During the year NZC felt the full financial impact of the Boxing Daytsunami and the abandonment of the Sri Lanka tour of New Zealand.Fortunately NZC should recover most of its lost revenues when the SriLankan team returns to New Zealand in January 2006.At the end of 2004/05 financial year, NZC recorded a surplus of$754,000, before distributions to Major and District Associations. Thiscompared to a budgeted pre-distribution surplus of $2.21 million.Revenues fell $900,000 below budget whilst expenditure exceededbudget by $700,000.Events other than the tsunami detrimentally affected revenues. The ICCprudently decided to continue its retention of funds from the ICC CricketWorld Cup 2003 tournament as a result of an ongoing dispute betweenthe ICC and Global Cricket Corporation. As at balance date the ICC hasretained USD $1.3 million from distributions due to each of the 10 FullMember countries. It is hoped that this long-running dispute can bebrought to an end during the current financial year, at which time it isexpected that NZC will receive a final distribution from the retained funds.During the 2004/05 financial year, NZC continued to provide strongsupport to the Major and District Associations. Distributions totalled$6.86 million compared to $6.75 million during the previous financialyear. NZC recognises that the need to sustain or increase the amount ofthese distributions is crucial to the future of cricket in New Zealand.As NZC embarks upon the final year of its current financial cycle, it isforecasting a small overall deficit for this four year period. This wouldrepresent a positive achievement given the significant events whichhave occurred during this cycle which were largely outside the controlof NZC but which have adversely affected our financial position. NZC'sability to absorb the impact of those events was underpinned by thestrong commercial arrangements that NZC has created or maintained.MarketingThe marketing department completed a review of the Black Caps brandduring the year and as a result the team brand was refreshed with theteam name “Black Caps” becoming “The New Zealand BLACKCAPS” andthe Black Caps cap logo being replaced with a silver fern logo.The refreshed brand forms part of a branding strategy which will seeNZC promote the BLACKCAPS team in line with its updated brandvalues.The Black Caps brand had become well established since its inceptionas a nick name in the 1990s and required a revamp to ensure it wasmoving in a direction which would maximise public accessibility,brand awareness and revenue to NZC. The marketing departmentworked with leading brand management firm, Imagination, toundertake a complete review of the BLACKCAPS brand. Brand conceptsbased around the ethos, culture and history of the BLACKCAPS weredeveloped in consultation with current and former players.The marketing campaign for the 2003/2004 season began with a print,radio and web promotion to drive interest in the Sri Lankan tour. Whenthe tour was called off the campaign was quickly re-geared for the onedayseries against the FICA World XI.A highlight of the season was the innovative campaign to promoteAustralia’s tour. The integrated campaign co-ordinated a mix oftelevision, radio, newspaper and web advertising in a cheeky conceptwhich showed the Australians playing badly while the BLACKCAPSperformed at their very best around the catch line “you never knowwhat the BLACKCAPS will do next.”
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New Zealand Cricket (Inc.) Annual Report

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