Warwickshire County Cricket Club has published its 2025 Annual Report, highlighting a year of significant growth, structural change and continued investment in the Club’s long term future.
For the year ending 31 December 2025, Club income rose to £40.4 million, an increase of £15.3 million on 2024. EBITDA increased to £4.5 million (2024: £1.9m), reflecting strong commercial and operational performance, as well as the expansion of the Group. The results underline a transformational year for the Club, driven by the first full year of the Women’s team, the integration of Birmingham Phoenix, a successful India Test Match, and event‑related growth.
In 2025, the Club acquired a controlling 51% stake in Birmingham Phoenix as part of the ECB’s restructuring of The Hundred. This is now reflected in the balance sheet and investment is now being made to ensure the future Hundred competition is an even bigger success in engaging new audiences. The year also saw the first full integration of Bears Women into the Club’s professional structure and continued progress on the redevelopment of the Raglan and Priory stands at Edgbaston.
Revenue growth was supported by a full five‑day India Test Match, delivering strong ticketing and hospitality sales, the consolidation of Birmingham Phoenix revenues, and continued expansion across catering, sponsorship and events. Conference & Events delivered record revenues of £3.35 million, reinforcing Edgbaston’s position as one of the UK’s leading event venues. Operating profit rose to £2.4 million (2024: £0.07m), with a £1.09 million surplus after tax, demonstrating improved profitability alongside increased investment in cricket and infrastructure.
The Club continued to prioritise long‑term sustainability by investing £5.6 million of capital expenditure during the year, largely linked to the Edgbaston Masterplan redevelopment. The project, which includes a new stand and 146 room Radisson RED hotel, will enhance the spectator experience, diversify revenue streams and support sustainable growth, with completion ahead of the 2027 Ashes.
Chief Executive Stuart Cain added: “2025 has been one of the most important years in the Club’s recent history. Off-the-field we have successfully delivered growth across our core revenue streams, integrated Birmingham Phoenix into the Group, and made significant progress on the redevelopment of Edgbaston.
“On the field, both the men’s and women’s teams showed progress. Bears Women reached the Vitality Blast Finals Day in their first year as professionals and Warwickshire men finished fifth in the County Championship but stalled at quarter-final stage in the Vitality Blast. Financially, we continue to invest in the players, the academy and the facilities needed to keep progressing and look forward to a successful 2026 season.
“The need to balance short‑term performance with long‑term planning is critical, but we are confident that we are building a more resilient, diversified and ambitious Club than ever before which will be able to compete in all formats of the game at the very highest level for many years to come.”
Finance Director Abraham Khan said: “The last year represents a step change in both the scale and structure of the Club. The acquisition and consolidation of Birmingham Phoenix, combined with a strong major match programme and continued commercial growth, has driven a significant increase in revenue and profitability.
“Just as importantly, we have strengthened our balance sheet, increased our cash reserves and reduced debt, while continuing to invest in long‑term infrastructure through the Edgbaston Masterplan.
“The funding secured through The Hundred transaction, together with our partners provides a solid platform to deliver these projects without compromising financial stability. Looking ahead, our focus remains on maintaining strong financial discipline, managing liquidity through the construction period, and ensuring we continue to generate sustainable revenues that support both cricketing success and long‑term growth.”
Chair Mark McCafferty said: “The Club is in a strong position as the game continues to evolve. The decisions taken in recent years are now delivering tangible results, and we are well placed to continue our development with confidence.”
In 2026, the Club will prioritise delivering the Edgbaston redevelopment project, maximising the commercial potential of Birmingham Phoenix, continuing growth in Conference & Events and partnerships, and strengthening both men’s and women’s squads. With strong foundations now in place, Warwickshire enters 2026 well positioned to build on this progress both on and off the field.
Click here to view the annual report.