Cricket Australia secures $50 million loan and applies for more

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Cricket Australia officials say a $50 million loan with the Commonwealth Bank is a “done deal”, triggering fresh questions about the governing body’s decision to stand down most of its staff for a saving of $3 million.

The board of the Australian Cricketers’ Association, whose president is former Test all-rounder Shane Watson, will convene early this week to formalise a position on the state of the game’s finances, which have been painted in a bleak manner by CA chief executive Kevin Roberts.

While Kevin Roberts has worn intense scrutiny over the cash crisis controversy, the CA board has been eerily silent.That is unlikely to go down well with the more than 200 CA staff who have been stood down on 20 per cent pay until the end of June. The cuts were made amid fears expressed by the CEO that CA would run out of money by August without drastic action being taken.

Langer, meanwhile, says he is eagerly anticipating his players coming out of their annual leave period in a fortnight’s time despite the schedule of the men’s team being unclear in the winter following the cancellation of a Test tour to Bangladesh and with a limited-overs trip to England in July sure to be called off.

 

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seems like a shit move now to cut staffs salary by 80%...

Because you get a loan to shore up the business security doesn’t mean that choices to save costs was wrong ....

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