debut: 2/16/17
39,503 runs
Red Force Cricket T&T Limited pays TTCB $4.8M in management fees
Guardian Media Sports continues its series into the financial concerns and relationships between the Trinidad and Tobago Cricket Board (TTCB), its franchise company Red Force Cricket T&T Limited and the level of funding pumped into each other by Cricket West Indies (CWI) and fees paid after this reporter viewed several documents and spoke to several persons.Several ‘concerned’ TTCB sources are calling for a forensic accounting investigation into the financial statements of the TTCB and Red Force Cricket T&T Limited (the TTCB’s franchise company), citing concerns about the business relationship between the two related organisations.Red Force Cricket T&T Limited was formed as a for-profit company by the TTCB executive in 2014.
They want the investigation to begin with the 2024 financial statements because they are ‘alarmed’ by a $4.8 million payment made to the TTCB by its subsidiary, Red Force Cricket T&T Limited, for ‘management fees’.They said that while the TTCB, as the national cricket authority, oversees the Red Force team, the board has never been in the business of professional management services.TTCB’s 2024 financial statements listed the payment as a source of administration income.In 2024 the management fees increased by more than 300 per cent from 2023, which was $1.2 million.The 2024 management fee accounted for more board income than sponsorship for local competitions ($3.7 million), as well as marketing and promotions ($1.48 million).
When contacted, TTCB Treasurer Stephen Ramkissoon said he had no comment on the matter, while TTCB General Secretary Altaf Baksh said he would prefer not to comment, as TTCB President Bassarath usually handled issues of this nature.Bassarath did not respond to questions sent to him via WhatsApp and email, and calls were also not answered.Guardian Media Sport understands, from TTCB sources who spoke on the condition of anonymity, that during Saturday’s annual quarterly board meeting, the board’s members were banned from discussing or asking questions about the Trinidad and Tobago Police Service raid which took place on May 8th.The sources told Guardian Media Sport that they were puzzled and worried because, as far as they know, the police could be visiting them anytime soon.
Guardian Media Sports viewed the Barbados Cricket Association’s financial statements for 2023. There was no equivalent income for management fees for its first-class franchise team, the Barbados Pride.
Guardian Media Sports continues its series into the financial concerns and relationships between the Trinidad and Tobago Cricket Board (TTCB), its franchise company Red Force Cricket T&T Limited and the level of funding pumped into each other by Cricket West Indies (CWI) and fees paid after this reporter viewed several documents and spoke to several persons.Several ‘concerned’ TTCB sources are calling for a forensic accounting investigation into the financial statements of the TTCB and Red Force Cricket T&T Limited (the TTCB’s franchise company), citing concerns about the business relationship between the two related organisations.Red Force Cricket T&T Limited was formed as a for-profit company by the TTCB executive in 2014.
They want the investigation to begin with the 2024 financial statements because they are ‘alarmed’ by a $4.8 million payment made to the TTCB by its subsidiary, Red Force Cricket T&T Limited, for ‘management fees’.They said that while the TTCB, as the national cricket authority, oversees the Red Force team, the board has never been in the business of professional management services.TTCB’s 2024 financial statements listed the payment as a source of administration income.In 2024 the management fees increased by more than 300 per cent from 2023, which was $1.2 million.The 2024 management fee accounted for more board income than sponsorship for local competitions ($3.7 million), as well as marketing and promotions ($1.48 million).
When contacted, TTCB Treasurer Stephen Ramkissoon said he had no comment on the matter, while TTCB General Secretary Altaf Baksh said he would prefer not to comment, as TTCB President Bassarath usually handled issues of this nature.Bassarath did not respond to questions sent to him via WhatsApp and email, and calls were also not answered.Guardian Media Sport understands, from TTCB sources who spoke on the condition of anonymity, that during Saturday’s annual quarterly board meeting, the board’s members were banned from discussing or asking questions about the Trinidad and Tobago Police Service raid which took place on May 8th.The sources told Guardian Media Sport that they were puzzled and worried because, as far as they know, the police could be visiting them anytime soon.
Guardian Media Sports viewed the Barbados Cricket Association’s financial statements for 2023. There was no equivalent income for management fees for its first-class franchise team, the Barbados Pride.
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