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.
By submitting this comment, you agree to the following terms:
You agree that you, and not CaribbeanLifeNews.com or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to CaribbeanLifeNews.com the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.