Surrey announce record profit

Surrey have confirmed their standing as one of the wealthiest counties by announcing a record profit of £752,000 for 2009. The club had a turnover of £25.5 million for the year, an increase of £1.5 from 2008 due to hosting World Twenty20 matches and the deciding Ashes Test.

Despite a poor season on the field Surrey continued to show their financial clout and have invested heavily in the playing squad for 2010 by signing Steven Davies, Gareth Batty, Chris Tremlett and a new captain in Rory Hamilton-Brown.

"We are pleased to announce significant increases in turnover and profits and believe that these results are testament to the hard work of our staff during what has been a particularly challenging year commercially," said Paul Sheldon, the chief executive.

"We need to continue to produce these levels of profit in order to meet our commitments to professional and recreational cricket in Surrey by investing in players and other grassroots initiatives, as well as servicing our debt on the OCS stand and continuing the improvement of our ground.

"As we look to the future, we are very conscious of the need to diversify our income streams - and we expect to continue the expansion of our business activities through the building of a new hotel at the ground, in partnership with Arora International."

Surrey have also shown their interest in the Indian market and Sheldon revealed to Cricinfo earlier this year that he had travelled there to investigate potential tie-ups with IPL sides. With the use of a Test ground and their London base, Surrey are one of the ideally placed counties to expand into the IPL market.

However, the club have been through a barren period on the field. They are currently in Division Two of the County Championship and finished a lowly seventh in 2009. Chris Adams, the cricket manager, has promised to rebuild the team but admitted it will take time.

He has taken a gamble by signing the 22-year-old Hamilton-Brown from Sussex to lead the side despite him having played just eight first-class matches, while Batty and Davies are believed to be on very high salaries which they will need to justify with their performances.