PORT OF SPAIN, Trinidad, CMC – Cricket West Indies’ (CWI) recently released financial report has come under heavy criticism from renowned chartered accountant and economist, Mariano Browne, who has described it as a “PR document”.
In a review of its financial performance made public last week, CWI disclosed that revenue fell from just over US$88 million in 2024 to close to US$41 million in 2025. It further revealed that in 2025, it recorded a net income loss of US$28.5 million, compared to a net surplus of US$22.6 million in 2024.
CWI also said its cash resources had fallen from US$17.5 million in 2024 to US$1.7 million in 2025.
However, speaking during an interview on i95.5 FM on Saturday, Browne, the Chief Executive Officer at UWI’s Arthur Lok Jack Global School of Business, said the report failed to provide necessary details on how the money was being utilised.
“Based on the evidence that has been released in its financial statements, the financial statements are highly aggregated; in other words, it gives a top line that says $88 million, but how is it broken down? How did it go between the various tours? What did the various tours contribute? Those numbers are not in the document, and it has to be intentional, because they said they were going to be transparent, but if you’re going to be transparent, then you need to know what the numbers are, and those numbers are not visible.
“So, from that basis, all you’re doing is making an objective assessment on the very large numbers, not on the actual details that happened. What tour contributed what? Did they make more money on this tour? Did they lose money on that tour? You can’t tell that, and you can’t come to any conclusions on that. You know that this is the total amount of cash that they generated, and that’s it,” Browne said.
“It doesn’t speak with any degree of confidence in terms of what is going to happen next year and how much cash they’re going to generate. They did say that they don’t owe any bank any money and they are negotiating new contracts and sponsorship deals, but no details are given about what the sponsorship deal means in the form of cash or what it would pay for.”
Browne maintained that while the report was “nice and glossy and looks good”, it did not give a clear understanding of the operations of West Indies cricket.
When asked to rate it, he said, based on what was presented, he had no choice but to give it a failing grade.
“As a comprehensive report on the state of West Indies cricket, it would get zero. Based on a financial statement, it would get a minus. In terms of a PR document, it will give a plus, because it’s PR,” Browne said.
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