19 November 2013
Profits From World Cup Will Eliminate WICB Deficit
Tuesday 10 July 2007A huge positive of hosting the ninth ICC Cricket World Cup will be the elimination of the current WICB financial deficit.
Speaking following the 22nd meeting of the Board of Directors, held in Kingston, Jamaica on Friday 6 July, ICC CWC WI 2007 Inc. Chairman, Mr. Kenneth Gordon has confirmed that the tournament profits will contribute heavily to securing the future of West Indies Cricket and in the provision of a direct return to host countries.
“We broke new ground by hosting this event successfully in the Caribbean. Of course there are lessons we have learned and things which occurred that could not have been anticipated. The fact that we were able to effectively deal with the challenges is a credit to the excellent work and high quality of the management team. The staging of the Cricket World Cup was an experience we all take great pride in.” said Mr. Gordon
“We compare very favourably with much larger countries that have hosted this event before. We sold more tickets (672,000) than the last two cricket world cups in South Africa (625,000) and England (476,000) and garnered $32 million in ticket revenue which the ICC has told us is the highest gate ever. Along with the high standard of organisation of the matches, these are worthy achievements the Caribbean can be justifiably proud of. The profit from the event will also eliminate the deficit of the WICB and this augurs well for the future of West Indies cricket,” he added.
The Board of Directors of ICC Cricket World Cup West Indies 2007 Inc. strongly lauded the management and overall staging of the recently concluded Event in the West Indies. Following a review of the flagship tournament at the meeting of the Board, Mr. Gordon highlighted their conclusions.
“The Directors are very satisfied with the overall results of the tournament. First and foremost is the fact that the region was able to deliver on its host agreement, satisfying all the important deliverables of this major undertaking.”.
The Board of CWC 2007 comprises 18 distinguished West Indians including professionals, Government ministers and business leaders drawn from across the region. CARICOM, the Caribbean Tourism s(CTO), the Caribbean Hotel Association (CHA) and the University of the West Indies are also represented.
“This was always going to be challenging given the number of countries involved, the lack of infrastructure at the time when the region committed to the project and the relatively small size of our economies. But despite all this, the West Indies got the job done.” He stated.
Credit for the success of the event was given by Mr. Gordon to the management team.
“The Directors were unanimous and unreserved in their praise for the entire management team under the outstanding leadership of Chris Dehring. Facing tremendous pressure and odds to pull this region together to accomplish this historic feat, they did a thoroughly professional job. We are very proud of their achievements and those of the Local Organising Committees.”
Mr. Gordon also passed on to the board and management the strong commendations received from the ICC and Caricom at recently held meetings of these institutions which he attended.
“The members of the ICC were all very positive on the West Indies’ performance as hosts and gave us a rousing and unqualified “thumbs up”. So too were the Caricom Heads of Government who have also expressed their satisfaction publicly”.
Mr. Gordon pointed to some of the successes of the tournament including the investment in infrastructure made by regional Governments and the management of over 9,000 persons across the region in the staging of the largest ever event in the Caribbean.
“Thanks to our Governments we now have 12 world class cricket stadiums and 22 practice facilities for the further development of West Indies cricket – built on time and to specification. Over 4,300 volunteers and 3,000 event security personnel were trained and deployed and we now have a cadre of over 500 West Indians trained and experienced in world games event management.”
Despite the inherently high costs of staging the event in the Caribbean, the preliminary financial results indicate a healthy profit which will greatly assist the WICB and provide a direct return to host countries.
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