CWI in financial crisis due to Sri Lanka and Bangladesh, losses $22 million

Cricket, like any other sport, is closed during the hard times of the coronavirus. Most of the cricket boards in the country are facing financial losses. Many boards are deciding to reduce the salaries of players and other employees.

CWI in financial crisis due to Sri Lanka and Bangladesh, losses $22 million

The West Indies Cricket Board (CWI) has not yet made a decision. No matter what, the board’s treasury is somehow empty. And the big reason for that is the tour of West Indies of Bangladesh and Sri Lanka in 2018. The CWI claims that they have lost 22 million US dollars or 186 crore rupees in those two series.

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Due to lack of money, CWI has not been able to pay match fees to any international or domestic player so far this year. Players owe money for two months before the game is stopped due to coronavirus. The West Indian Cricket Board is already suffering from a financial crisis. The coronavirus has only made it worse.

The country’s men’s team players did not receive match fees for the tour of Ireland and Sri Lanka. The girls team did not get the match fee for the T20 World Cup. However, the domestic cricketers have suffered the most. They did not earn any money playing in the four-day first-class match of the West Indies. However, the 10-round tournament was canceled after eight rounds. Barbados has been declared the champion and given the Headley-Weeks trophy of the tournament.

The board has two types of contracts with domestic cricketers in the West Indies. In one, 90 contracted players get a monthly salary. In the other, the contract players only get money if they play a match. The players of the two contracts receive a fee of 1600 US dollars (about 1 lakh 36 thousand rupees) per match.

Wayne Lewis, secretary of the West Indies Players’ Association (WIPA), said the contractors had received a monthly salary but had not yet received a match fee. CWI chief executive Johnny Grave has assured that they will pay the players even if it is a little late.

“Cricket West Indies are going through a difficult time financially,” he said. “The salaries and allowances of all the contracted players, prize money and match fees of some players have also been paid. However, many players still owe a huge amount. We are trying our best to pay it.”

Grave said the West Indies board was in a financial crisis in 2018 when it hosted Sri Lanka and Bangladesh. “When we host Sri Lanka and Bangladesh, we got less than 1 million US dollars from what we were supposed to get (1600 US dollars) from the broadcasting rights agreement.”

However, Grave said that the West Indies cricket did not go bankrupt after the England and India tour of the West Indies in 2019. “The loss was compensated by England and India in 2019. Records revenues have been gained from those two series. We have paid the dues of 2018 and 2019 with that money.”

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