PORT OF SPAIN, Trinidad — Cricket West Indies is facing mounting scrutiny after its latest financial disclosures triggered a pointed critique from economist Mariano Browne, who has dismissed the report as more presentation than substance.
The governing body revealed a dramatic financial downturn in 2025. Revenue plunged from just over US$88 million in 2024 to approximately US$41 million, while a healthy net surplus of US$22.6 million a year earlier flipped to a net loss of US$28.5 million.
Equally concerning was the sharp contraction in cash reserves, which fell from US$17.5 million to a precarious US$1.7 million.
Yet for Browne, the headline figures are only part of the problem.
“Highly aggregated” and lacking transparency
Speaking on iSports on i95.5 FM, Browne argued that the report fails in its most essential function, clarity.
“…On the basis of the evidence which 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?”
He emphasized that without detailed segmentation, meaningful analysis becomes impossible.
“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.”
According to Browne, the absence of this level of detail undermines the organization’s stated commitment to transparency.
Missing detail, missing confidence
Beyond the numbers themselves, Browne raised concerns about the report’s forward-looking value, or lack thereof.
“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.”
While CWI indicated that it carries no bank debt and is actively negotiating sponsorship and commercial agreements, Browne pointed out that these claims were unsupported by specifics.
“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 with regard to what the sponsorship deal means in the form of cash or what it would pay for.”
Presentation vs substance
Browne acknowledged the report’s polished appearance but questioned its practical value.
“…It’s nice and glossy and looks good, but it does not give a clear understanding of the operations of West Indies cricket.”
His critique underscores a broader concern: that the document prioritizes presentation over meaningful financial insight.
Asked to assess the report, Browne delivered a stark evaluation.
“As a comprehensive report on the state of West Indies cricket, it would get zero. On the basis of a financial statement to give me an insight, it would get a minus. In terms of a PR document, it will get a plus, because it’s PR.”
A call for accountability
The critique lands at a critical moment for Cricket West Indies, as financial stability remains central to the region’s cricketing future.
For stakeholders, sponsors, and supporters alike, the message is clear: headline figures are no longer enough.
What is required now is transparency, detail, and accountability, elements Browne argues are currently missing from the picture.
