The postponement of the the New Zealand cricket series has caused Cricket Australia to suffer significant financial loss.

The one-day test and T20 tour which was to be held from 30 January to 8 February was postponed due to COVID-19 border restrictions between Australia and New Zealand.

Cricket Australia CEO, Nick Hockley, said: “We are extremely disappointed that we won’t be able to play the scheduled matches against New Zealand as planned, however we will continue to work with New Zealand Cricket (NZC) to reschedule the series.”

“We thank NZC, who made every effort to make the series happen, however because they were unable to get certainty over return quarantine arrangements, it is simply just not possible at this time,” Hockley said.

The postponement of the tour will cost Cricket Australia (CA) millions due to exclusive television rights with Fox Sports which will be lost, however the two countries could not make the tour work.

New Zealand Cricket chief executive, David White, said: “NZC and CA had explored a proposal to expand the tour and to push out the date on which the squad might return to New Zealand in the hope that might be more achievable for the government.”

“Unfortunately, we received advice this morning that they could not provide certainty over this,” he said.

Over the past few seasons, CA has taken a major financial hit with COVID-19 and boarder restrictions costing the league hundreds of millions and 2022 has not been any easier.

A cut in television rights with the most recent UK deal cost CA a reported $4O million, while additional COVID-19 costs over the past few seasons expected to cost another $50 million.