Cricket West Indies (CWI) Chief Executive Officer, Johnny Grave, has cautioned that the governing body needs to continue “living within its means” as it seeks to further consolidate its finances in the face of challenging global conditions.
CWI has been hit by bleak finances in recent years and lost an estimated US$20 million in 2018, a year which Grave described in an interview last year as “financially horrible.”
And while lucrative 2019 home series tour against England and India had been expected to be a huge boost to CWI’s coffers, Grave said recently that with international media companies experiencing “enormous pressure and strain, it was critical CWI continued to exercise prudence in managing its financial affairs.
Apart from broadcast rights revenue, Grave indicated that key to CWIs finances will be the redevelopment of the Coolidge Cricket Ground in Antigua, formerly the Stanford Cricket Ground.
He said CWI was poised to undertake long term financing on the venue in order to underwrite “ambitious” redevelopment plans, which would ultimately lead to increased revenue.