st john's,antigua cmc
THE WEST INDIES CRICKET Board, (WICB) has finally confirmed the downsizing of the 2005-06 Carib Beer Series and have pointed to cash flow problems as the reason behind the move.
An official release late yesterday said the tournament would be scaled down to just five rounds and would now bowl off November 25 instead of the original start date of November 11. As expected, the series will climax with the Carib Beer Challenge in a semi final play-off among the top four teams and then the final.
The WICB has cited a lack of finance as the reason behind the restructuring of the tournament, noting that its cash flow had been negatively impacted in recent times.
"While long-term benefits are expected from recent ICC initiatives, the impact of the Future Tours Programme has resulted in a reduction of revenue to the WICB of some US$8 million over the past four years," the release stated. "This has severely impacted on the board's finances, making it necessary for the board to restructure its operations and to undertake a comprehensive review of current expenditures."
The board revealed that their operational costs were currently under review by a committee headed by Enoch Lewis, also a WICB director.
Results of the review, the release said, would be announced soon. "These measures are designed to have a positive impact on WICB's cash flow and represent an important first step in the turnaround of the board's financial position," the WICB said.
The WICB added that they hoped to revert the Carib Beer Series to its full format once the "new revenue-generating initiatives" yielded their benefits.
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