PORT OF SPAIN, Trinidad (CMC): The financial health of Cricket West Indies (CWI) has been described by its president, Ricky Skerritt, as being in the Intensive Care Unit (ICU) because of the impact of the COVID-19 pandemic, which has prevented competition in the sport.
Skerritt said that there would have to be some cost-cutting and that a committee set up after a 63-page financial review report by accounting and financial management consulting firm PKF was presented to the board last December would be making recommendations on how to come out of the crisis and thrive financially.
“What this committee will do is to look at that and also look at the emergency situation that this COVID-19 pandemic has thrown us into and recommend what can be done,” Skerritt said.
Skerritt said that the committee is expected to present its report in time for the board’s next quarterly meeting on May 27, “where all we will be dealing with is finances”.
The committee is tasked with assessing the related financial implications for future international tours, regional tournaments, and High-Performance camps with regard to revenue, operating expenses, cash flow, and the rescheduling or cancellation of events.