Bankruptcy for WICB?
Two chartered accountants have painted a bleak financial future for the West Indies Cricket Board (WICB).
Andrew Brathwaite, vice-president of the Institute of Chartered Accountants of Barbados, says the regional governing body could be forced into bankruptcy, while Orson Simpson, a former treasurer of the Barbados Cricket Association (BCA), also admits to doubts about the viability of the WICB.
Their assessments follow an analysis of the last two WICB financial statements and in the face of an ultimatum from the Board of Control for Cricket in India (BCCI) for compensation in the amount of US$42 million following the recent aborted West Indies tour to the subcontinent.
The WICB, which has assets of US$15 million – a decline of almost 50 per cent over a two-year period – and incurred losses in three of the past four financial years, has six more days to inform the BCCI how it plans to pay up or face the possibility of legal proceedings.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.