BRIDGETOWN, Barbados (CMC):
Chief executive Johnny Grave is confident that a ‘record year’ of revenue can transform Cricket West Indies (CWI) finances crippled by the COVID-19 pandemic and return the organization to sustainability.
Highlighting the big money-making home tours this year, as well as disbursements from the International Cricket Council, Grave said CWI could end up with a large surplus which would help erase the deficits incurred due to the past two years. of the global pandemic.
And, barring any setbacks, Grave pointed out that 2022 could be the first of three consecutive years of strong revenue for the regional governing body.
“I think if we have a very good year this year and everything goes to plan, potentially by the end of this year, we could look to get back to that normal score and, if not, very soon after.” , said the Englishman. , Mason and guest cricket show.
“We are now very focused on achieving a record year of revenue for the organization and, more importantly, a record surplus that would reverse the majority of the deficit that we have accumulated during this very difficult period. of two years under covid.
“And, with 2023 looking to be a good year both in terms of our international home series and a bumper year for the ICC with the final year of their current business cycle culminating in the 50+ World Cup – their most economically generating event and it happens in the biggest market [of] India – 2023 will be a very big year for the ICC.
He continued: “[It will be] a record year and therefore good for us in terms of record distributions, coinciding with a strong Future Tours program for the men’s team.
CWI’s revenue disappeared in 2020 at the height of the pandemic, the organization was forced to abandon all of its revenue-generating home visits as international travel slowed amid government-mandated shutdowns around the world .
The Antigua-based body was forced to announce major cuts, slashing all salaries by 50% and also cutting all funding related to cricket in the region.
Tours of the region last year by Sri Lanka, South Africa, Australia and Pakistan marked a return to normal, but it’s the much-vaunted England tours this year – in front of packed stadiums – which gave CWI a major boost. .
Grave said the arrival of Indian power in the Caribbean later this year would also help financial recovery.
“In terms of West Indies Cricket [revenues]it’s very simple,” he explained.
“The tours are India and England, so we’re hoping that the arrival of India in August this year will be a huge boost and allow us, following this England tour, both in T20 and in Tests, to have a record year from a financial point of view.
“We also hope to host India again for Test matches and white-ball cricket in 2023, so it should be a very good year as well.”