Cricket Australia (CA) has secured a loan amount of 50 million dollars as cover if the Indian men’s team fails to tour the country later this year due to the COVID-19 pandemic, according to reports. The amount is an upfront payment part as part of a larger 200 million dollars credit. The reports also inform that the stakeholders have been intimidated that the loan with the Commonwealth Bank is a ‘done deal’.
However, the move has raised questions about CA’s decision to stand down 80 per cent of its staff due to the financial crisis. The board stood down more than 200 staff on 20 per cent pay until the end of June while chief executive Kevin Roberts drawing 80 per cent salary.
The decision, which had saved CA about 3 million dollars, is in question now with the governing body securing 50 million dollars loan. It is also to be noted that Roberts is set to propose to state associations a 25 per cent reduction in grants from CA, the reports said.
While the CA is staring at losing a staggering 300 million Australian dollars in the wake of the pandemic, India’s four-Test tour in December-January could provide relief to the struggling body. Former Test allrounder Shane Watson, who is the president of the Australian Cricketers’ Association Board, will convene a meeting early next week ‘to formalise a position on the state of the game’s finances’.