Damian Barrett

The second thing is, and we're very proud of Cricket Australia, a business partner, so I disclose it at the front and try and add some balance to this.

It feels like...

The business model is broken, doesn't it?

Yeah.

Through no fault of Cricket Australia.

Well, if it's not through fault of Cricket Australia, who's at fault then?

The states.

Why do they distribute so much money back to the states?

Now, the states would argue that they need it for development and they need it for...

But it feels like – I don't know many sports where the states have a big hold on head office where it works.

Let me just go to Claude Damo and just give you – so these are the numbers that Claude has spat out for me.

These are untested.

These are just –

I just asked Claude, how much does Craig Australia give back to the States every year?

So it says here their revenue is $453 million in 2025.

That's enough to run a business on, would you say?

$453 million, but the deficit was $11 million.

But they gave $120.9 million back to the States.

Yeah, still a fair bit left over.

Well, if you didn't give the 120 million back to the states, I read that balance sheet as $110 million profit.