Explained: Why Lord's is set to lose £4 million during World Test Championship final between Australia and South Africa

After Rose Bowl and The Oval, the third ICC World Test Championship (WTC) final is set to take place at the ‘Home of Cricket’ later this year, with Australia set to defend their title against South Africa at the Lord’s Cricket Ground from 11 to 15 June . It will be the second consecutive time that the marquee clash is hosted in the city of London, with the neighbouring Oval having hosted the 2023 final between India and Australia that the latter ended up winning by 209 runs .

From the organisers’ perspective, however, the upcoming event might not necessarily be a success. The iconic venue, however, is reportedly set to lose up to £4 million in revenue for hosting the match this summer.

Why Lord’s is bracing for a major revenue loss in the WTC final

According to The Times, Team India’s failure to qualify for a third consecutive WTC final has inflicted a major financial blow to the Marylebone Cricket Club, the cricket club that owns Lord’s and used to be the governing body for the sport before the formation of the ICC.

The report states that the organisers had initially priced match tickets at a premium rate keeping India as a finalist in mind, believing their demand would “outstrip supply”. However, the Rohit Sharma-led team’s failure to qualify for the final forced the MCC to lower their ticket prices in order to ensure a “more vibrant stadium” instead of an empty-looking one.

Tickets currently are being sold at rates between £40 to £90 – £50 cheaper than what the MCC had originally set them at keeping India’s participation in mind. MCC members who had bought tickets before the price reduction have since been refunded the difference.

India had lost to New Zealand in the inaugural WTC final at Southampton’s Rose Bowl in 2021 before losing to their Trans-Tasman rivals two years later. As for the 2023-25 cycle, India were in pole position to qualify for a third consecutive final after defeating West Indies 1-0, holding South Africa to a 1-1 draw in South Africa and inflicting a 4-1 series loss on England at home.

Later in 2024, India would complete a 2-0 sweep against Bangladesh at home. However, a stunning 0-3 home whitewash at the hands of New Zealand left them needing a series win in Australia to qualify. Their fate was ultimately sealed with a 1-3 series loss Down Under .

The Proteas, on the other hand, secured their passage into the final – their second in an ICC event in consecutive years – with a hat-trick of 2-0 sweeps, defeating Bangladesh away before finishing on top of the table with victories against Sri Lanka and Pakistan at home.