Cricket West Indies (CWI) has received a significant financial boost after the International Cricket Council (ICC) approved a loan of US$12.82 million (BDS$25.6 million) to support the regional governing body as it navigates a challenging financial period.
The decision was announced following the ICC board’s latest meeting in Edinburgh, Scotland.
The directors approved a series of governance, membership and member support measures and the loan forms part of the ICC’s commitment to assisting one of its full members during a period of increased financial pressure.
NATION SPORT spoke to Cricket West Indies’ chief executive officer Chris Dehring, who welcomed the injection of funds at this crucial time.
CWI has been forced to undertake stringent cost-cutting measures to make ends meet – the most significant measure came earlier this year when they reduced the regional four-day first-class championship.
“CWI welcomes the ICC’s continued support, which forms part of a broader programme of ongoing initiatives to support the organisation’s long-term growth and development,” Dehring said.
“This is one element of a wider strategic direction aimed at strengthening CWI’s financial and operational resilience, particularly given the inherent cyclical nature of its revenues and the rapidly changing global cricket landscape. These initiatives are intended to position West Indies cricket for sustained success, greater stability and continued relevance in an evolving international environment.” Members of the CWI hierarchy are expected to host a media briefing in the coming days where they will offer more insight into the loan process and also provide updates on a number of organisational matters.
While neither organisation disclosed the details of the loan nor the detailed repayment terms, the funding is expected to provide CWI with additional financial flexibility as it continues to manage the costs associated with international cricket, regional competitions and player development programmes.
The loan comes at a crucial time for Cricket West Indies, which has previously projected a funding gap over its current financial cycle.
With a forecast of US$26 million loss in the 2026 cycle, CWI’s financial statements had indicated loan financing from the ICC, along with commercial banking credit facilities, as ways to close the funding gap. Back in 2012, the then-West Indies Cricket Board received assistance funding alongside Zimbabwe, from the ICC.
A source with details on the matter, told NATION SPORT the “approval reflects the close relationship between the ICC and its full members, with the global governing body providing financial assistance where necessary to ensure the continued growth and stability of the game”.
The ICC board meeting also addressed several governance and membership matters.
These included conditions surrounding Cricket Canada’s suspended membership, as well as an update on Sri Lanka Cricket, noting “progress towards adopting a revised constitution. It reiterated the importance of holding elections as soon as possible and agreed that SLC would remain unable to be represented at ICC Board meetings for the time being”.
However, the approval of the loan to Cricket West Indies was among the key financial decisions announced.
For CWI, the source added it “the funding offers welcome breathing room as it seeks to strengthen its financial position while continuing to invest in cricket throughout the Caribbean”. (PS)