The West Indies Cricket Board (WICB), earlier this week announced that it was in a good financial position despite experiencing a financial loss of US 5.4 million dollars for the fiscal year ending 30th September, 2000.

The increase in the Board's positive cash flow (US 2.03 million dollars), was due mainly to a new television rights agreement with BskyB during the year under review, which included an upfront signing advance of US 5 million dollars.

According to the Board, the losses experienced were due mainly to the expansion of the development programme (an expanded Under-15 and Under-19 tournaments, along with the hosting of two West Indies "A" tours). The loss was further compounded by an unprofitable tour of England last summer along with the television production expenses for the home tours of Pakistan and Zimbabwe. These productions did not earn the commensurate revenue from those weaker television markets.

The Board accepted that the change in the tour guarantee system implemented by the International Cricket Council (ICC), and the England and Wales Cricket Board (ECB) revised payment terms, which emanated from it, led to last year's unprofitable tour of England.

It was also accepted that while the WICB was committed under the existing television contracts to produce television for every home series, there are losses in some years. These are however, compensated by the substantial revenues from television rights when the West Indies plays England, India and Australia at home.

The Board also agreed to continue its efforts to increase revenue sources and reduce costs so that funds can be made available to meet the developmental needs of the WICB and its member territorial boards.

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