Grave: Salary cuts possible at CWI
BRIDGETOWN, Barbados (CMC):
Cricket West Indies (CWI) chief executive officer Johnny Grave has indicated that salary cuts for the executive, players, and officials have not been ruled out, with revenue generation hampered as the COVID-19 crisis drags on.
Although stressing that it was too early to say what decisions would be taken in that regard, Grave said the lack of play as a result of the spread of COVID-19 across the globe has put CWI in a particularly difficult financial situation and a committee has been set up to advise on the way forward.
"We're in unprecedented times and everyone is in difficult situations and everyone is doing their best to protect what cash they have and keep their staff and their people paid," he said on the Mason and Guest radio programme on Tuesday night.
The priority for us
"It's very difficult to say with any degree of certainty what action we may take, but clearly the priority for us at the moment is, first and foremost, the health and safety of all our players and staff and clearly their wider communities and the countries of the Caribbean. We need to act very responsibly and in line with the government and medical advice.
"Secondly, our major priority is to try and keep all our people paid at full pay for as long as we can, but clearly there will come a point in time where that becomes not a possibility," Grave added.
Earlier this month, CWI president Ricky Skerritt said there were no immediate plans to slash players' retainer contracts, even as COVID-19 continues to wreck playing schedules across the globe.
The CEO acknowledged that players were already taking a financial hit, with the domestic first-class championship curtailed and the Indian Premier League (IPL), in which many West Indies players signed lucrative contracts, now suspended indefinitely.
And he said it could get worse, as there was a possibility there would be no more cricket played for the rest of the year.
In that scenario, Grave said, "there will have to be significant reductions of all of our costs and salaries, and our players, staff and officials are clearly all part of that".
"The board of directors, at the last teleconference on April 2, established a finance review and strategy committee and they're due to meet also on Thursday for the first time, and we've got another board teleconference at the end of this month.