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| July 30, 2006 | Sunday | Rajab 3, 1427 |
WICB denies being bankrupt
PORT-OF-SPAIN, July 29: West Indies Cricket Board has dismissed reports about its state of bankruptcy ahead of Cricket World Cup, saying they were greatly exaggerated as it has an improved performance in current financial year and new lines of revenue including ODIs against India.
WICB said it was not depending on next year's World Cup to bail the Board out of financial crisis. In fact, it was expecting a better turnover in current fiscal year and already invested US$22 million in preparation for World Cup.
“WICB wishes to clarify news items appearing on the condition of Board's finances following appearance of excerpts of Consolidated Financial Statements for the year ended Sept 30, 2005,” Board said in a statement.—Agencies
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