Windies pay back US$3m to ECB

Thu, Jul 23, '20



Cricket West Indies (CWI) has come good on their promise and has repaid the England Cricket Board (ECB) the US$3M (TT$20.2m) loan that the organisation got in May to help settle players' outstanding salaries.

This was revealed by the Chief Executive Officer (CEO) of CWI Johnny Grave in an interview with Guardian Media Sports yesterday.

According to Grave: "We have received our US$7M from the International Cricket Council (ICC) as our normal revenue share which each board member gets and the ECB has been paid off."

As part of the agreement, the funds were to be paid by the ICC directly to the ECB with the balance coming to CWI. Back in May, Grave was quoted in the Nation News as saying: "We agree, we got a three-million-dollar advance of our ICC distribution that was given to us by ECB. It’s a short-term interest-free advance because its due to be paid back in full in July, directly by ICC to ECB, and will be deducted from the money we get."

The loan from the ECB came at a time that caused controversy for CWI and president Ricky Skerritt. The board was accused of agreeing to tour England during the COVID-19 pandemic because of the loan given to them by ECB. Some went further to suggest that the loan was given to CWI in return for support to Colin Graves the ECB chairman who is vying to become the chairman of the ICC.

Read more at The Guardian T&T

comments 0 comments