Cricket West Indies (CWI) is expecting a financial recovery for the regional board over the next three years despite the organization recording a loss of approximately US$10. 3 million and accumulated deficit of around US$23.6 million for the financial year ending Sept. 30, 2021.
Speaking on the Mason and Guest cricket radio show recently, CWI CEO Johnny Grave was optimistic about the finances of CWI post COVID-19 with record revenue predicted to come from the International Cricket Council (ICC) as well as from future tours.
” I think if we have a very good year this year and everything goes to plan, potentially by the end of this year we could be looking to get back to that par score, if not, very soon after,” Grave said about CWI’S financial institution.
“We’re focused very much now on delivering a record year of revenue to the organization and a record surplus, which will lead us to reverse the majority of the deficit we’ve built up over this very two year period under COVID-19,” he explained.
Grave said 2023 is looking a good year, both in terms of “our international home series and a bumper year for the ICC with the final year of their current commercial cycle ending with a 50-over World Cup happening in their biggest market in India.”
In terms of ICC revenue, Grave said CWI was hoping for as much as US$10 million more in 2023 compared to what they would gotten in previous years.
In terms of CWI tours, he said India’s upcoming tour to the region in August, with the just concluded England Test and T20 series in the Caribbean “will be a massive boost and allows us to have a record year (in 2022) from a financial perspective.”