Experiences from Cricket West Indies (CWI) recommend that the organisation made a web revenue of US$14.25 million for the 2023 monetary yr, which ended on September 30, 2023.
The Annual Normal Assembly (AGM) for the organisation was held in Antigua on Saturday, the place it was revealed that US$62.3 million was collected by CWI by means of income in 2023. This disclosure was a part of CWI’s Annual Report and Audited Monetary Statements for the fiscal yr 2022 to 2023, which was introduced on the occasion.
Dr Kishore Shallow, the President of Cricket West Indies (CWI), said that the organisation has labored with a collectively and with diligence, which has helped it progress within the interval into consideration.
He added, “As we glance again on the previous yr, I applaud the super progress we have now achieved collectively. The credit score is yours, as via our unified efforts, we have now made a lot progress. I’m equally assured that our journey guarantees even higher rewards if we preserve this path.”
In line with President Shallow, the ICC Males’s T20 World Cup 2024, which isn’t too distant, has the potential to usher in income someplace to the tune of US$300 million, which may have a considerably optimistic influence on the economies of Caribbean nations.
President Shallow additionally said the next, “The thrill round internet hosting the ICC Males’s T20 World Cup 2024 resonates with us at Cricket West Indies. This can be a outstanding alternative for the Caribbean. CWI stands prepared and well-positioned to make the area and cricket world pleased with an impressive spectacle in June.”
Kebra Nandon, the Chief Monetary Officer for Cricket West Indies, expressed her happiness, including that the enhancements seen within the funds of the organisation had been right down to the transformational modifications made by it, which had been seen as a essential step to stabilize the cricketing physique.
Nanton added the next, “Having efficiently reversed the deficit of over US $2 million, which was over US $23 million in 2021, we now document a surplus of US $12 million. Moreover, our forecast for the tip of 2024 anticipates our surplus exceeding US $20 million. This achievement lays a stable basis for our sustainability over the following 4 years.”
“By fortifying our monetary place via elevated retained earnings, we have now bolstered our capability to navigate future challenges.”
Grant Thornton of Antigua is alleged to have been chargeable for conducting an intensive and complete audit of the funds of Cricket West Indies (CWI), in accordance with the organisation itself. It has been mentioned by representatives of Cricket West Indies that this step contributed tremendously in selling transparency and guaranteeing that the suitable steps had been taken to reform the organisation’s monetary administration.
