Debt on the books of WA Cricket amid the WACA Ground’s recent redevelopment has played no major part in the organisation’s decision to weigh up a partial privatisation of Perth Scorchers, according to chief executive John Stephenson.
A $189 million modernisation of the northern side of the historic venue was marked as complete in March.
The Prindiville and Inverarity Stands were demolished to make way for a public aquatic facility and gym, alongside an indoor high-performance centre, function and administration spaces and a new museum, to which the final touches are still being applied.
WA Cricket contributed more than $17 million to a project which was in large part funded by the State Government, to go with contributions from the Federal Government, City of Perth, Cricket Australia and other benefactors.
In their 2024-25 financial statements, WA Cricket said they had refinanced their debt into a $10 million unsecured, interest-bearing bank facility with Westpac.
Their revenue for the financial year was just over $46 million to go with total current assets of $28 million.
Stephenson said he was completely confident the organisation would remain in a strong financial position, regardless of how the non-binding privatisation process proceeds.
“We do carry a bit of debt, but we are planning really well in terms of how we have set up that debt facility. We’re managing our finances in the background very carefully,” Stephenson said.
“We’re going to become less reliant on Cricket Australia in the next few years because we’ve got other revenue streams coming through. We are in a much better position than other state associations.
“We’re at 52 per cent (of revenue from CA distributions) currently. We’re looking, next year, to flip it, so that we are 48 per cent reliant on Cricket Australia and 52 per cent will be generated from us. That equation will gradually get better for us as well.
“We’re never complacent. We’re always looking to diversify our income, and we’ve got a great opportunity here with the aquatics, the gym, the cafe, the high-performance centre, the museum and the Wally Edwards Function Centre and they are starting to gain momentum already.”
Stephenson, who conceded a redevelopment process which ran behind schedule in stages “wasn’t easy”, said he would ensure the organisation’s core functions as the State’s governing body of cricket would remain their No.1 priority.
“The State Government have put in a lot of money to make the WACA a outward-facing community asset, not just a cricket ground, but it’s cricket is still at the heart of this organisation,” he said.
“This is where players are made. This is where we play great cricket matches, and this is where we we host a lot of women’s cricket, which is developing rapidly, and State cricket, the (Sheffield) Shield and the One-Day Cup.
“There’s a lot of cricket content, so cricket at it’s heart, but the money we can make from diversifying the business all gets ploughed back into the game.”
