TTCB – News

Cricket Board finances swell despite cutbacks
September 9, 2011

THE TRINIDAD and Tobago Cricket Board (T&T) is in a much healthier position financially than when the Movement for Change took over leadership of the organization close to two years ago.

And the national executive led by Azim Bassarath was able to increase the value of the T&TCB despite drastically reduced financial support from the Sport Company of Trinidad and Tobago which has dwindled to less than $3 million over the past 24 months.

Treasurer of the T&TCB Sukesh Maniam said on Friday (September 9, 2011) that the favourable financial situation can be attributed to prudent fiscal policies and a strong emphasis on savings which has seen the balance sheet swell from just under $3 million in 2009 to its present $6 million.

“I think it is a remarkable feat that the Cricket Board has been able to swell its coffers in the face of the economic downturn and minimal financial assistance from the Sport Company of Trinidad and Tobago,” said Maniam. “It would seem that we are doing something right,”  he said.  

Maniam also responded to concerns raised by the Friends of Cricket Group in a television report on Thursday about a reported $11 million left in the T&TCB kitty when the Deryck Murray led group was removed from office in 2009.

Maniam said that almost $8 million of the funds represented prize money received from the 2009 Champions League T20 in India when Trinidad and Tobago led by Daren Ganga played unbeaten to the final and finished runners-up to New South Wales Blues of Australia.

“The money spoken off did not entirely belong to the T&TCB. We paid more than $7.8 million to members of that outstanding team and their support staff which was due to them by virtue of emerging second best in the biggest T20 club tournament in the world,” said Maniam.

The T&TCB treasurer is ironically the lone Friends of Cricket candidate to win his position in the 2009 elections and has formed a successful working relationship with the Movement for Change officers. He said he was not surprised by the latest attack on the Bassarath led T&T Cricket Board.

“According to the records between 2007 and 2009, assistance to the Cricket Board from the Sport Company  totalled between five and six million dollars but when this present administration came into leadership the figure plummeted but we were still able to keep our heads above the water and get our programmes and competitions underway unhindered or starved of cash. In the end we are showing a handsome balance sheet,” said Maniam.

He also revealed that the Cricket Board’s financial health is not a secret as its books are open for scrutiny every quarter when the full Board meets which he said is attended by both Movement for Change and rival Friends of Cricket representatives.  Maniam said the Board’s Executive are also privy to the figures which are furnished for them at their monthly meetings. 

“We can safely say that the Cricket Board finances are in a way better position that it was when he came into leadership two years ago. In the next term we aim to build further on our sound financial strategy which is the envy of all major sports organisations in the country.” said Maniam.