by PHILIP SPOONER

IT WILL COST the Caribbean over half-a-billion dollars to build the 12 stadiums and renovate venues to host matches in next year's Cricket World Cup.

This disclosure came from Chris Dehring, the chief executive and managing director of the World Cup.

"In response to the question of costs, from a venue development perspective, the cost is in excess of US$300 million (BDS$600 million) across the Caribbean," he said.

"But it is very important to appreciate that this is not an expenditure for the Cricket World Cup. This is an expenditure to build stadiums which will be used for the Cricket World Cup, but we certainly expect several events to take place well after the Cricket World Cup has come and gone."

Dehring did not give a figure when he was pressed as to the overall cost of running the event including all forms of development. Chris DeCaires, chairman of Barbados' organising committee, said figures for the redevelopment of Kensington Oval remained at $135 million.

He added that it would cost in excess of $100 000 to redevelop the training venues – Weymouth and Windward Cricket Club – and about $2 million to complete the work at the 3Ws Oval.

Only last week, there were media reports in England which detailed that preparations for the 2012 Summer Olympics Games in London could soar to more than £5 billion (BDS$18.8 billion). The London Olympics will be centred in the city's East End, where a run-down district is being regenerated into a huge park area.

The organisers sent a team off to Barcelona to see how the Spanish city was transformed by hosting the 1992 Games. And, Olympics Minister Tessa Jowell said in a statement: "What they have achieved continues to inspire us and to prove that hosting the Games really can change a city and a country for the better."

Dehring admitted that with the infrastructure the region will inherit, hosting the International Cricket Council's Champions Trophy in 2010 should be a relatively easy undertaking.

"With the kind of facilities the Caribbean will have and the kind of expertise, the 2010 Champions Trophy should be a breeze, so you won't be having that level of expenditure when that comes around," he said.

"There are other World Cups and a host of other world games, so we can look forward to these. Cost is very important to look at, but we also have to look at return. You don't spend money without looking at the kind of return you are expecting.

"The economic debates will go on for a long time but people all over the world still bid for these events, so there must be something worthwhile in having these events."

Dehring also acknowledged that stadium-building and preparations will go down to the wire, and the next four months will be crucial.

Using the analogy of the final stages of a One-Day match, Dehring said it would be important that people

understand that a "tremendous amount of work is left to be done".

"I want to use the analogy of a One-Day match. We are into the final overs chasing a big score. Every single ball that we don't score off, the run rate goes up," he said.

"There is a lot of work to be done. What is going to be required is that a lot of work is going to have to be done by everybody. We all have to appreciate the magnitude of what is happening here."

He praised the Barbados Local Organising Committee for its work so far, and said that despite Kensington Oval – venue for the final – being behind by five weeks, the island was heading in the right direction.

The delays have been caused by special attention to the roofs of two major stands, which require fitting and technology from Britain. The new date for completion was given as early February, rather than December 31.

"Barbados has a lot to be proud of and their preparations are looking quite good," Dehring said.

"I want to urge them, however, not be complacent. We are quite happy with what is happening here, but as I said before, we are in the final stages, and a lot matters at this crucial stage. We are all in it together."

The 1992 Barcelona Games produced US$7.6 billion (BDS$15.2 billion) in investment, enabling the city to make infrastructural improvements in eight years that otherwise would have taken 50 years. And, the 2000 Sydney Games triggered an extra US$3.8 billion (BDS$7.6 billion) in tourist revenue between 1997 and 2001.