ECB set to sack its employees amid growing financial loss 

The COVID-19 pandemic is causing a severe financial crunch for cricketing organizations around the world and the latest to join the list is the England and Wales Cricket Board (ECB).

According to media reports, the ECB is set to engage in severe cost-cutting measures as it stares at a potential deficit of 182 million pounds in the current financial year.

The ECB held a meeting with 18 first-class counties and the county boards on Wednesday, where it informed that it expects a minimum shortfall of £106m in the current fiscal.

"This figure assumes that the remaining men's international cricket - Pakistan's tour and a proposed six-match white-ball visit by Australia in September - will take place under the biosecure conditions in place so far this summer," 'The Guardian' reported.

ECB didn't sound too optimistic when it further said the overall loss could increase if any of the aforementioned matches were cancelled.

"But there has also been a warning that the overall loss to the game could rise by a further 76m pound should any of these matches be cancelled or the ECB find itself unable to sell tickets for next year's visits by India, Pakistan and Sri Lanka," the report added.

It is also being reported that ECB could reduce its staff by up to 25 per cent. The board had 379 employees before the COVID-19 pandemic struck the world and now fortunes of these employees hangs in the balance.

ECB also mentioned that the cost of hosting games in the COVID-19 era had risen exponentially.

"As well as the loss of ticket sales and high cost of putting on England's matches, which has included bringing touring teams over on charter flights and creating bubbles at the Ageas Bowl and Old Trafford, the deficit has been put down to the 12-month delay of The Hundred, which was due to launch last month," ECB said.

When West Indies toured England, they were chauffeured in a charted plane and had to remain in a 14-day mandatory quarantine in a bio-secure bubble. A similar routine was followed with the Pakistan cricket team, which is currently playing the first Test at Old Trafford.

ECB not the first board to cut jobs and slash budget

ECB is not alone in slashing the budget and letting go off its employees. In June, Cricket Australia (CA) had slashed about $40 million from its annual budget in a bid to ensure long-term stability and growth of the game.

CA had also let go off 40 of its employees across state and territory associations which took the total number of sacked employees to 200.