NZ Cricket boss Geoff Allott says $7.3 million deficit forecast 'not good enough'

New Zealand Cricket has announced a preliminary deficit of $7.3 million for the last financial year and is planning on slashing the broadcast schedule for the final T20 Super Smash season as part of cost-cutting measures.

The preliminary deficit announced on Thursday by NZ Cricket (NZC) is significantly higher than the budget forecast deficit of $1.8m for the financial year ending 31 July 2026.

In a media release, New Zealand Cricket (NZC) primarily attributes the difference to the organisation budgeting for revenue from a multi-year domestic broadcast contract, which had already been received in previous financial years.

It said a reduction in income following changes to NZC's partnership with sponsor Dream11, prompted by changes to India's gambling laws, together with an increase in the organisation's overall costs, also contributed to the deficit.

NZC chief executive Geoff Allott acknowledged the situation was disappointing, but believed the game was still in good financial health.

"As an organisation we accept that this financial performance isn't good enough, nor is it sustainable," he said.

"It's important that we own this updated budget deficit and immediately put in place the necessary steps to adjust and ensure it doesn't happen again."

The NZ Cricket boss said the coming financial year was set to be more prosperous.

"With net projections forecasting a surplus in excess of $10m, driven largely by the broadcast and commercial revenue generated by the in-bound tour by India.

"That being said, we are acutely aware that as a business our financial model over a four-year cycle is typically lumpy, so we need to be prudent to ensure the long-term sustainability of cricket."

The final financial position may differ from the preliminary figure as the $7.3m deficit remains subject to completion of NZC's annual audit expected in early November.

Allott confirmed a range of measures NZC had undertaken in response to the updated budget deficit, including a full review of internal financial processes, and a reassessment of budgets for the coming financial year.

Allott said a reduction to the broadcast schedule for the final season of the T20 Super Smash was also on the cards, following consultation with the Major Associations and the NZ Cricket Players Association.

Plans are underway for a proposed T20 franchise League for the 2027-28 season to replace the Super Smash competition.

Allott said just 24 of the 64 matches this summer would be broadcast across 12 double-header match-days, including the finals.

Allott said NZC was currently in discussions to ensure the proposed 24 matches remained free-to-air in New Zealand, following the conclusion of TVNZ's broadcast rights agreement last season.

"The loss of Super Smash title sponsor Dream11, coupled with the FY26 budget deficit, meant this was the most financially responsible decision for the competition.

"Our support and commitment to the community game, as well as the players and fans, remains a key priority and we're confident that we are taking a considered and responsible approach in the circumstances."

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