LONDON, May 19, 2026 (BSS/AFP) - English cricket's increasing reliance on playing home games against India has become even clearer following a warning it is prepared for a "significant loss" in 2027 despite staging an Ashes series.

England and Wales Cricket Board accounts for the year ending January 31, 2026 report a œ12.6 million ($16.9 million) profit on ordinary activities and an improved year-on-year turnover of œ89.4 million.

They also include ring-fenced profits of œ522.3 million on sales in stakes of the eight Hundred franchises, several of which were purchased by groups with links to the lucrative Indian Premier League, for internal investment in the English game and increased cash reserves of œ72.8 million.

But those numbers follow England's five-match Test series at home to India last year, a thrilling contest that ended in a 2-2 draw after a maximum 25 days' play.

The passion for cricket in India, the world's most populous nation, fuels money-spinning deals for overseas broadcast rights and the ECB will hope for another boost to their finances when the Indian men's national side returns for five Twenty20 and three one-day internationals later in the 2026 English season.

And, in a notable announcement, the ECB financial statement issued Tuesday said the English governing body expected to lose money in 2027, even though it will be hosting a marquee five-match men's Test series against Australia, long considered its most significant sporting property.

But while it may remain the foundation stone of all Test cricket -- England and Australia first met in 1877 -- and the contest beloved above all others by most English fans, it now appears the Ashes can no longer rival matches involving India in pure financial terms.

"Turnover in the year ended 31 January 2026 amounted to œ408.9 million, an increase of œ89.4 million compared to the prior year," said the ECB's financial report.

"This is largely attributed to increased broadcast and ticketing revenues due to hosting an India men's Test series in 2025.

"Attention should be drawn to the fact that the ECB's revenues are inherently cyclical, reflecting the scheduling of high-value broadcast series by opposition, and while this profile is advantageous in the current year and in 2026, it is expected to result in a significant loss position in the 2027 season when the England men's team does not host a series against India."