Cricket West Indies (CWI) have slashed staff and players’ salaries by half, in an attempt to remain viable amidst mounting financial troubles due to the global COVID-19 pandemic.
Describing the move as a “temporary measure,” the board said in a statement last week that it “deeply regretted” having to make the cuts but was left with little choice “in the face of debilitating economic challenges, which have resulted from the impact of the COVID-19 pandemic.”
The measures, adopted following “close consultation with all stakeholders,” will also extend to funding for territorial boards, territorial board franchises along with the players association, West Indies Players Association.
Retainers and allowances for directors and executive management are also being slashed by half.
CWI approved the measures during a board of directors meeting held by teleconference recently, acting on recommendations put forward by its Financial Strategy Advisors Committee established in April and chaired by Jamaica Cricket Association President, Wilford “Billy” Heaven.
The board said it did not envisage the measures lasting beyond “three to six months.”
CWI President, Ricky Skerritt said the current environment had required a “huge sacrifice” from the entire West Indies cricket fraternity.
“This pandemic is hurting every West Indian and this decision to cut staff and players incomes has been a very difficult one to make, one that will impact so many members of the cricketing family around the Caribbean” the CWI president said.
With the outbreak of COVID-19 forcing a halt to cricket globally, CWI faces the prospect of having to postpone home tours by South Africa and New Zealand both of which were expected to boost the organization’s finances.