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Cricket heading towards financial crisis

Published: 
Friday, December 15, 2017

The Trinidad and Tobago Cricket Board (TTCB) is about to see red, as they are heading down a road of financial crisis, after two major sources of income has been cut.

The TTCB, who is the constituted body to run cricket in this country, is now facing a shortfall in revenue of $6.93M, as hard times has reached the doorsteps of cricket. Sources in the know told Guardian Media Sports that talks with the National Gas Company, the TTCB’s major sponsor has fallen by the wayside and they did not receive their annual sponsorship of $4.5M.

The board as an NGO also gets a subvention from the SPORTT and even this has been cut, as SPORTT’s allocation has been on the way downwards. The TTCB was expecting assistance to the tune of $2.7M from SPORTT but they only got 10 per cent of that, a total of $270,000. During the last year, the board was able to run cricket using their savings in both T&T currency and US currency.

According to the source, prizes awarded on 2017 have all been honoured: “Prudent financial management was the TTCB left them with some savings and they have been using that to brace the short fall. Cricket is now in danger because the money that the board is getting will be focused on the senior team, the T&T Red Force and there will be a decrease in training and development programmes. The source went on further to say that the board now needs to engage the government of the day in discussions and spell out the danger that the sport is now in. “If the situation continues to be the way it is and nothing improves during the early stages of the next year, then the dependency will continue on Cricket West Indies (CWI) who has been bankrolling cricket throughout the region with the lack of sponsorship for the sport.”

The professional set up for the Red Force is not likely to be disrupted though, as CWI has been funding the retainer project for the First Class cricketers taking part in the Professional Cricket League (PCL).