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Cricket West Indies records revenue of US$62.3M for 2023

FRESH from their AGM which was held in Antigua on March 23, Cricket West Indies (CWI) has revealed the organization recorded revenues of US$62.3 million for 2023, with a net income of US$14.25 million.CWI said there was a full quorum at the AGM, and representatives from Barbados, Guyana, Jamaica, Leeward Islands, Trinidad & Tobago, and Windward Islands were all present

CWI made the announcement via press release on March 26, as it released the annual report and audited financial statements for the fiscal year 2022-2023.CWI’s chief financial officer Kebra Nanton was also pleased with the strides being made by the organization, and she expects CWI to further strengthen their financial standing in the next few years as they continue the “transformational change” in the organization.

“Having successfully reversed the deficit of over US$2 million, which was over US$23 million in 2021, we now record a surplus of US$12 million,” Nanton said.
“Furthermore, our forecast for the end of 2024 anticipates our surplus exceeding US$20 million. This achievement lays a solid foundation for our sustainability over the next four years.”

TENURE LIMIT DISAGREEMENT
Majority CWI directors reject extending president’s stint, 3-term limit

The majority of Cricket West Indies (CWI) directors do not want longer terms for the board president.“We picked what we believed were the low-hanging fruits.” He added: “Out of the seven, some five were approved, met favour with the board and there were two that were not passed. One was to have the term limits for the office of president (increased to three years).”

…The other resolution was to put term limits so the president could not serve more than three consecutive terms.” Shallow then explained why he hoped the provision to extend the president’s term of office would have been approved.He said the current two-year-limit, “does not incentivise leaders to focus on the priority which is West Indies cricket, as opposed to survival.

However, the matter of term limits could be revisited, since in Tuesday’s release Shallow said: “It is imperative that we continue our efforts to enact these reforms for the betterment of West Indies cricket.” The 36-page report was prepared by an independent task force led by prominent Jamaican businessman and senator Don Wehby, and included leading regional academic Sir Hilary Beckles, former West Indies vice-captain Deryck Murray, Jamaican businessman OK Melhado and prominent Kittitian lawyer Charles Wilkin QC.

In reply to sgtdjones

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In reply to sgtdjones

In reply to camos

Have one 4 year non extendable term!

Sensible!

The nature of CWI mitigates against accomplishing much in two years!

In reply to sgtdjones

They sold the rights to future revenues for 40 years….Seaga pulled this stunt in the 1980s selling the rights to future bauxite earnings for a generation to balance the books. Voodoo economics..dont fall for the tricks of the Samfi Man