Cricket West Indies President Ricky Skerritt, who’s aiming to be re-elected after a two-year time period, has revealed that the COVID-19 pandemic forced them to borrow money to pay gamers and employees wages however the board’s debt has diminished to a 3rd in his tenure.
Skeritt shall be combating for reelection in opposition to Guyana Cricket Board secretary Anand Sanasie.
Talking concerning the state of CWI funds, Skerritt mentioned they’ve improved considerably since he took over.
“The largest drawback we have been dealing with is that every one of our future money was spoken for earlier than we even obtained it. We have been residing on borrowed future earnings. So, we had shut to USD 20 million in institutional debt. And we have been borrowing to pay again lenders.
“It was all smoke and mirrors. And that’s understandable on short-term strategies when there are difficult times for cash flow. But it had become endemic,” Skerritt instructed ‘ESPNcricinfo’.
The CWI boss went on to say that the board had to borrow to pay employees which obtained a 50 per cent pay minimize within the wake of the pandemic.
“So we’ve been having to tighten belts, give attention to money reasonably than on revenue and loss and do away with any type of pointless prices. And we’ve minimize our debt down by a minimum of a 3rd now after lower than two years.
“And, with some problem, we now have improved our capability to meet our obligations, we simply couldn’t meet most of our obligations (beforehand).
“We were borrowing money to pay wages. We did that for the first year that I was in office. Right up until the early summer last year we were literally having to borrow to just pay players and staff,” he mentioned.
The West Indies group was first to tour amid the pandemic, flying to England for a Test collection in July final 12 months.
On the affect of the well being disaster on the sport, Skerritt added: “The pandemic made all the things extra devastating. But it additionally gave us a chance and an excuse to give attention to what we actually wanted to give attention to…getting all stakeholders to perceive that it will take sacrifices from all of us, together with a 50 per cent pay minimize for everyone.
“The pandemic forced us to do more with even less. And I think that, in the final analysis, we’re going to come out of the pandemic more informed and better aware of what’s needed going forward.”