ST JOHN’S, Antigua – Cricket West Indies (CWI) has published its Annual Report for the 2021-22 financial year. The publication of the report follows the 24th Annual General Meeting (AGM) which was held on Saturday 25 March 2023.
The document reports on CWI’s objectives and programmes which have been implemented as the world emerges from the challenges of COVID-19. It also provides insight into future initiatives which form part of the organisation’s Cricket First Strategic Plan for the growth and sustainability of the game. One of the major highlights will be the hosting of the ICC Men’s T20 World Cup in June 2024.
The Annual Report features specific reports on cricket, fan engagement, commercial development, finance as well as the Coolidge Cricket Ground (CCG) Master Plan, all of which were presented to the shareholder members at the AGM which was held at the home of CWI at the CCG in Antigua.
Some key areas of the report and takeaways from the AGM include:
The Cricket Report
The Chair of the Cricket Strategy & Team Outcomes Committee, Enoch Lewis, advised of the packed cricket schedule both regionally and internationally, the performances of the West Indies teams across all formats and also made recommendations for the upcoming tournaments and series ahead. It also detailed CWI’s stated goal to grow the game at all levels and provide great opportunities for players development. Additionally, it indicated CWI’s recently taken decision to have two separate coaches for the Senior Men’s Team – one for red ball cricket and one for white ball cricket. It also looked ahead with great anticipation to the ICC Men’s T20 World Cup, which will be hosted in the West Indies and USA in June 2024.
The Financial Report
Chief Financial Officer, Kebra Nanton reported that 2022 was a record year for financial revenues due in large part to the intense schedule of international cricket which included high-return tours by England and India of the West Indies. The presentation highlighted that CWI had streamlined the roles and responsibilities of all finance officers and that CWI had filled a key strategic role by employing an Audit, Risk and Compliance Manager which is integral to the organisation’s mitigation of risk, and the overall success of CWI in achieving its strategic objectives.
The Commercial Report
The meeting received a report from the Commercial Director, Dominic Warne, highlighting a record year of sponsorship revenues which have doubled compared to the last full cricket year pre-COVID of 2018-19. Ticket revenues increased by 20% on a comparative Series basis to the 2018-19 year when both England and India toured the West Indies. This revenue growth was achieved despite the five T20 Internationals against England in January 2022 operating at 50 percent capacity due to COVID-19 protocols. The total West Indies social and digital audience has grown to over 8.5 million fans, with increased levels of fan interaction and participation.
Unveiling of the CCG Master Plan
The meeting received a joint presentation of the redevelopment Master Plan from CCG General Manager, Nelecia Yeates, CWI High-Performance Manager, Graeme West, and Colin John Jenkins, of Design Collective – a group of design firms responsible for delivering the concept. The presentation included a virtual tour of the proposed main facilities of the West Indies High Performance Centre.
The meeting received resolutions for the approval of governance changes, which were deferred subject to further discussions and consultations amongst the members.
Johnny Grave, CEO of CWI said: “2022 has been a year of recovery both on and off the field, following two extremely challenging years due to the global impact of the COVID-19 pandemic. CWI has just staged our busiest-ever regional and international cricket year, as well as delivered record revenues to help get the organisation back on track and to continue to work towards achieving our key strategic objectives.”
He added: “As we prepare for yet another exciting year, with the launch of the new women’s West Indies Academy and another full schedule of regional and international cricket, including hosting both India and England Men’s tours again, we have much to look forward to. The year ahead will also include the important planning period for hosting the biggest cricket event ever in the West Indies, the ICC Men’s T20 World Cup, in June 2024. This tournament will be a major financial boost to CWI and all our host countries and it is the perfect opportunity to invite the world to the biggest cricket carnival ever staged and a once in a generation chance to build a strong foundation for the future.”
The entire Annual Report can be viewed here, and the 2021/22 Financial Statements can be viewed here: https://bit.ly/3M54rZ1.