ICL: Indian Cricket League


Cash-strapped West Indies seek ICC bailout

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The West Indies Cricket Board (WICB) has applied to the ICC for a US$3 million loan to keep it afloat, according to reports in the Hindustan Times.

While it is not unusual for Full Members to ask for what amount to advances on future ICC income - Sri Lanka and Zimbabwe did before the 2007 World Cup - that the WICB has been forced to do so barely more than 18 months after it hosted the World Cup is a worrying sign.

That tournament almost wiped out accumulated debts of more than US$20 million and was expected to put the board back on an even footing. But since then it has been involved in an acrimonious row with Digicel, its main sponsor, which ended in court. Costs were awarded against the board and a Digicel insider suggested to Cricinfo that these exceeded US$1 million.

The board has also failed to find a sponsor for its domestic one-day tournament after KFC opted not to renew its deal, and this has cost it more than US$500,000.

The ICC is almost certain to agree to the request, but it will wipe out more than half the expected income of around US$5.5 million from next year’s ICC World Twenty20 and ICC Champions Trophy. Interest will be paid at a commercial rate on the advance.

Source:Cricket News

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This entry was posted on Thursday, November 27th, 2008 and is filed under General, Cricket.

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