BDO accounts reveal staggering losses prior to World Trophy, World Masters and World Championship
The British Darts Organisation incurred losses of more than £468,000 during the financial year ending May 2019.
Latest financial statements for the year ending May 31, 2019 reveal BDO Enterprises Limited incurred total losses of £468,452, a figure which has since grown following the three major tournaments last season.
The reserves of the company were £178,297 and company director Derek Jacklin was paid £15,000 for administrative services.
The post balance sheet states that further losses have been incurred at the World Trophy and World Masters that further depleted the company reserves.
The prize fund for the 2020 BDO World Championship was slashed by almost 60 per cent for the men’s tournament and ten per cent for the ladies event to ensure the event went ahead.
This was due to poor ticket sales after leaving Lakeside for Indigo at The O2, as well as the lack of a major sponsor.
Lakeside owner Bob Potter traditionally covered the bulk of the prize for the World Championship as part of Lakeside’s title sponsorship.
BetBroker, an online gambling company, was announced as the ‘official shirt sponsor’ for the 2020 World Championship, but was said to be unlicensed and owed money to several customers.
BetBroker has since deactivated its Twitter account and there is no trace of a website or contact details.
The WDF, the sport’s official governing body, also announced in December that it will no longer recognise BDO operated tournaments.
The report of the independent auditors to the members of BDO Enterprises Limited draws attention to the significant losses incurred which ‘cast significant doubt on the company’s ability to continue’.
The BDO board has stated at the foot of the financial report that it ‘recognises the risks associated with continuing operations’ but is continuing to work at arranging sponsorship deals and TV coverage for scheduled tournaments in 2020.
The board is ‘confident’ deals can be reached to ensure tournaments run at a surplus and therefore secure the future of the BDO.
