Debt-free Glamorgan 'transformed' by Fire sale

Glamorgan Cricket have been "transformed" by the sale of The Hundred franchises and are now debt free despite an increased annual operating loss of £643,615 for 2025.

The club say they cleared outstanding borrowings to Cardiff City Council of £1,335,844 and £230,011 to the England and Wales Cricket Board (ECB) in August of last year.

The repayments were made after receiving £950,000 for Glamorgan's initial share of receipts from the ECB's sale of 49% stakes in the eight Hundred franchises.

In his annual report chief executive Dan Cherry described 2025 as a "transformational year" which will allow the club to "look forward with confidence and ambition".

Cherry added: "Clearing the debt, which has severely constrained the club's long-term plans was a watershed moment and the capital gained from the [Hundred] sale now gives the opportunity to invest in the areas of the business to drive future prosperity and to hopefully be less reliant on ECB funding in years to come."

Glamorgan are further set to benefit from major income streams as a result of the sale of half of the Welsh Fire franchise, based at Sophia Gardens.

Sanjay Govil, an Indian-American businessman who controls the Washington Freedom franchise in the USA, paid around £40m for a 50% stake in Welsh Fire.

The ECB sold 49% stakes in each of the franchises, with the income distributed across the professional and amateur games, while Glamorgan sold an extra 1% directly.

The County also hope to increase revenues after being promoted to Division One of the County Championship for the first time in two decades.

Cherry said the improvement of their core business on the field was particularly pleasing, with Asa Tribe and Ben Kellaway also earning international recognition.

"Developing our own players and transitioning to a core group of Welsh players will undoubtedly engender support from our loyal fanbase and give us the best chance of success," he said.

"A return to Division One cricket after 20 years and England Lions representation for the first time since 2012 give us confidence that we can push forwards and claim a place in the top eight clubs in the UK."

Glamorgan's turnover in 2025 increased to £10,219,903 compared to £8,826,925 in the previous year.

The county reported that their annual profit and loss reserve at 31 December 2025 was £13,356,878.

Gate and other cricket income fell from £701,000 to £564,000, reflecting lower domestic gates, while sponsorship went down from £567,000 to £500,000.

"This is an area we have identified as being undervalued currently," noted Cherry.

"We have a great opportunity to capitalise on the momentum created in 2025 and a good narrative to work with our partners to deliver our strategy."

Income from hosting international cricket was hit by poor weather for the England v South Africa T20 match while the one-day international between England and West Indies fell just short of capacity.

However, a one-day international between England and India at Sophia Gardens this summer has already sold out.

The Welsh club said that in the short term they expect to make a loss of £356,000 before interest, taxes, depreciation, and amortisation (EBITDA) in 2026 which will include investing in the move to Tier One status for the county's women's team.

However, the annual report and accounts project an expected return to EBITDA profit of £140,000 in 2027 "and grow sustainably from there".