Shallow lauds strides made as CWI Unveils annual report and audited financial statements

By Sports Desk March 26, 2024

Cricket West Indies (CWI) president Dr. Kishore Shallow lauded the collective strides made by the regional cricket body over the 2022-2023 period, and also expressed delight about the prospects to come from the upcoming ICC Men's Twenty20 (T20) World Cup.

Shallows comments followed the unveiling of CWI's Annual Report and Audited Financial Statements for the fiscal year 2022-2023, after the Annual General Meeting (AGM) held in Antigua on Saturday, March 23.  CWI recorded revenues of US$62.3 million and net income of US$14.25 million for the year ending September 30, 2023.

“As we look back on the past year, I applaud the tremendous progress we have achieved together. The credit is yours, as through our unified efforts, we have made much progress. I am equally confident that our journey promises even greater rewards if we maintain this path," Shallow said.

He also expressed enthusiasm about the T20 World Cup, which will be jointly hosted in the Caribbean and United States, as he highlighted its potential economic impact of over US$300 million for the Caribbean.

“The excitement around hosting the ICC Men’s T20 World Cup 2024 resonates with us at Cricket West Indies. This is a remarkable opportunity for the Caribbean. CWI stands ready and well-positioned to make the region and cricket world proud of a magnificent spectacle in June," Shallow added.

Reflecting on the financial year in review, Chief Financial Officer, Kebra Nanton acknowledged the continued strengthening of CWI’s financial position.

"We are delighted to announce further significant improvements in our financial standing as we continue the transformational change in our organisation. Having successfully reversed the deficit of over US$2 million, which was over US$23 million in 2021, we now record a surplus of US$12 million.

Furthermore, our forecast for the end of 2024 anticipates our surplus exceeding US$20 million. This achievement lays a solid foundation for our sustainability over the next four years. By fortifying our financial position through increased retained earnings, we have bolstered our ability to navigate future challenges," Nanton declared.

CWI’s financials underwent rigorous auditing by Grant Thornton, Antigua.

The interactive Annual Report also includes sections on Cricket, Fan Engagement, and an Honours List showcasing accomplishments over the year.

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    The 29-year-old set the forthcoming T20 World Cup co-hosts on their way with a 79-run partnership with Kyle Mayers helping them to 109/1 after 10 overs.

    However, they struggled to build on that momentum and were 66/7 thereon to finish on 175/8 with Ottneil Baartman and Andile Phehlukwayo both taking three wickets apiece.

    South Africa were slow out of the blocks with Quinton de Kock failing to reach double figures as they were reduced to 35/3 in the fifth over, and required 99 runs to win at the halfway point in their innings.

    Reeza Hendricks - the only visiting player to score more than 20 - put on an impressive late surge of 87 off 51 balls, but it proved academic with the Proteas bowled out for 147.

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    Becoming the 14th different player to captain West Indies in men's T20Is, King will have been pleased to start his reign against South Africa - the nation against whom he boasted his best T20I batting strike in the format (171.4).

    He certainly continued in that vein, reaching 50 off just 26 balls for his fastest T20I half-century. It proved crucial as the hosts went on to record their biggest margin of victory over the Proteas when batting first.

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    The 29-year-old, who is deputizing for compatriot Rovman Powell, attributed his Player-of-the-Match knock, which included six fours and six maximums, to the familiar conditions.

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    “I had the advantage of knowing the conditions well and I know that it is easiest to bat when it’s the new ball so I had to try and get a good start and I executed well. At the mid-way point I think we had 200-220 in mind as we had wickets in hand but it is a difficult wicket to bat on when the ball gets older, but we still managed to get a competitive total on this wicket,” he added.

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    The second and third games of the series are scheduled for Saturday and Sunday, at the same venue, ahead of the much-anticipated June-1-29 T20 World Cup hosted in the Caribbean and United States.

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