Amid financial challenges, CWI restores full salaries across the board

By Sports Desk April 19, 2021

Despite admitting that their finances were in dire straits, President of Cricket West Indies (CWI) Ricky Skerritt has revealed that staff and players are now receiving their full salaries again after agreeing to a 50 per cent pay-cut last year.

It was in July 2020, at the height of the COVID19 pandemic which left CWI facing a major loss of income in the absence of regular cricketing activities, that CWI enforced pay cuts across the board, but the president now said all salaries are back to normal, even if only temporarily.

“The cut doesn’t exist at the moment…but let me just remind you (the cut) was part of the crisis management strategy,” he told Line & Length on Sportsmax over the weekend.

“We had put in place what we had called a financial strategy advisory committee which was a small task force combined from our finance committee and our audit risk along with the compliance committee, the CEO (Johnny Grave) and myself.

“The pandemic isn’t over but we have relaxed one of those conditions, which is we are back to full remuneration,” said the 64-year-old Kittitian.

According to auditors KPMG, the Board’s financial records show that CWI’s liabilities exceeds assets and raised the “material uncertainty” about the sports organization’s ability to keep operating indefinitely.

“We draw attention to Note 2 to the consolidated financial statements, which describes that the group’s revenue is cyclical in nature and depends on the popularity of the various reciprocal tours undertaken by West Indies teams,” the independent auditor’s report said.

“As at September 30, 2020, the group’s current liabilities exceeded its current assets by US$14,836,946 and its total liabilities exceeded its total assets by US$10,747,720.

“These events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Skerritt, who was just handed another two-year term along with his vice president, Vincentian Dr Kishore Shallow, also indicated there were much better relations with stakeholders, players and staff over the last two years.

“The whole process is to not distract players away from their focus on cricket as far as possible and doesn’t give any interventions or any intrusions from an administrative or management level that can cause the players any kind of distress or any kind of unnatural concerns to do with the environment they find themselves in whether on tour or not,” the CWI president said.

Related items

  • Gayle and Bravo's Fortune Barishal suffer second straight loss in BPL Gayle and Bravo's Fortune Barishal suffer second straight loss in BPL

    Chris Gayle and Dwayne Bravo’s Fortune Barishal suffered their second straight loss, this time at the hands of the Comilla Victorians, as action in the Bangladesh Premier League (BPL) continued Tuesday in Mirpur.

    After winning the toss and electing to field first, Fortune Barishal thought they held the Victorians to a manageable target when they restricted them to 158-7 off their 20 overs.

    Bangladesh test opener Mahmudul Hasan Joy was the main scorer for the Victorians with 48, while Afghanistan all-rounder Karim Janat supported well with 29.

    Bravo was the pick of the Barishal bowlers with 3-30 off his four overs, while captain Shakib Al Hasan took 2-25 off his four.

    Barishal’s reply never truly got out of first gear with only three batsmen reaching double figures on their way to being bowled out for just 95 in 17.3 overs, losing by 63 runs.

    Najmul Hosain Shanto (36), Towhid Hridoy (19), and Nurul Hasan (17) were the only batsmen to pass 10.

    Gayle, who batted at number five, could only manage seven before he was dismissed by man-of-the-match, Nahidul Islam.

    Islam was the pick of the bowlers for Comilla with a miserly 3-5 off four overs, while Tanvir Islam, Janat, and Shohidul Islam all took two wickets each.

    Comilla Victorians now have two wins from two games to sit at the top of the table while Fortune Barishal sits third with one win and two losses.

     

     

  • Warner and Marsh left out of Australia's T20 squad to face Sri Lanka Warner and Marsh left out of Australia's T20 squad to face Sri Lanka

    David Warner and Mitchell Marsh have been left out of Australia's new-look squad to take on Sri Lanka in next month's T20 series.

    Australia will also be without coach Justin Langer for the five-match series, with the 51-year-old being given a break after a busy period.

    Assistant Andrew McDonald will act as head coach for the series, which runs from February 11 to 20.

    While Australia will be without two of their T20 World Cup stars in Warner and Marsh, Josh Hazlewood is back involved after returning from injury.

    Ben McDermott, who impressed during the Big Bash League campaign, is also included in the 16-man squad that was named on Tuesday.

    "I don't think that I wasn't ready to play for Australia before, but I certainly feel ready now," said McDermott, who has already made 19 appearances for his country. 

    "I feel like I'm at the top of my game. I've developed a lot of learnings through some experiences. 

    "They haven't all been good ones, I won't shy away from that, but I've definitely learned from those experiences and hopefully I come back well."

    The other members of Australia's successful World Cup campaign to miss out on selection are Mitchell Swepson, Daniel Sams, Dan Christian and Nathan Ellis

    National selectors chair George Bailey said: "This squad will begin preparation for the ICC T20 World Cup defence at home later this year and includes several players who have an early chance to impress in these five matches against a quality opposition."

    Australia T20 squad: Aaron Finch (c), Ashton Agar, Pat Cummins, Josh Hazlewood, Travis Head, Moises Henriques, Josh Inglis, Ben McDermott, Glenn Maxwell, Jhye Richardson, Kane Richardson, Steve Smith, Mitchell Starc, Marcus Stoinis, Matthew Wade, Adam Zampa

  • Andre Russell's two wickets, unbeaten 31 propel MGD to first victory in BPL this season Andre Russell's two wickets, unbeaten 31 propel MGD to first victory in BPL this season

    A strong all-around performance from Andre Russell helped Minister Group Dhaka to their first win in the Bangladesh Premier League on Monday when they defeated Fortune Barishul by four wickets at Mirpur.

© 2022 SportsMaxTV All Rights Reserved.