ECB faces projected 2027 loss of up to £50m despite Ashes summer

The England and Wales Cricket Board could record a loss of up to £50m in 2027 despite staging a home Ashes series, The Guardian reported. County executives were informed of that potential deficit last week, with lower international broadcast distributions adding to an already difficult financial outlook for the governing body.

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The forecast is not a final figure. According to the report, ECB sources believe the loss could be brought down to around £35m. The amount of money being withheld by the International Cricket Council has not yet been confirmed, and the ECB still has an opportunity to secure additional commercial and event income before its 2027 accounting period closes on 31 January 2028.

The Guardian reported that the ICC plans to retain part of the broadcast revenue it would normally distribute to members in 2027. Payments are usually weighted towards the final year of its rights cycle, which includes the men’s 50-over World Cup. The reported decision reflects concern that the next Indian television agreement will be worth less, with retained funds intended to soften the reduction in distributions in 2028. The ECB is working with the ICC to limit the impact.

England’s own broadcasting arrangements also help explain why an Ashes summer does not guarantee a profit. Payments from its Indian television partner are substantially higher when India tour England. The ECB made a £12.6m profit in 2025, supported by that summer’s five-Test series against India, and its accounts had already warned of a substantial loss in 2027 without a home India programme.

The potential shortfall comes at a sensitive time for county finances. Ten of the 18 first-class counties reported losses in their latest published accounts, according to The Guardian, while most depend on ECB funding. Central funding for counties rose by 31% from the previous cycle to £512m for 2025-28, alongside an additional £5m a year for women’s cricket over that period.

The report also distinguishes the ECB’s operating outlook from the proceeds of selling stakes in the Hundred. Although those sales raised £520m, most of that money is held in escrow for counties to reduce debt or fund infrastructure. The governing body has cash reserves of around £60m and aims to increase them to £80m, while the scale of the projected 2027 loss remains unsettled.