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CWI facing serious financial problems

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Cricket West Indies (CWI) is facing serious financial problems, which have forced new President, Ricky Skerritt to stop all “nonessential activities.”

The governing body owes regional boards and players money and has laid down a mandate to cut expenditures on everything apart from “cricket essential activities” with the perception of excessive becoming an issue once more.

Skerritt, who defeated Dave Cameron in the March 2019 election, revealed that due to lack of resources CWI has not been able to honor all of its financial obligations.

He said, however, that the organization was moving swiftly to address the problem.

“It’s worse than you think. All I can say is that we have a significant shortfall in working capital and that is why we have been not up to date with most of our obligations to our creditors,” he said.

The new president said the board has begun to undertake a financial review and in the meantime “we are continuing to raise funds where the funds can be raised and we think in the next couple months or so, we should be in a much better position than we are now.”

‘There are some grassroots programs that have either slowed down or just come to a halt because we haven’t been able to pay various vendors and suppliers. That has been the most troubling thing from me right now,” he said.

Posted 12:00 am, May 23, 2019
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