World Cup cash flow Bonanza - US$2.4b for WIBC (29 June 1999)

29 June 1999

World Cup cash flow Bonanza - US$2.4b for WIBC

Tony Cozier in London

The West Indies expect to receive approximately £1.5 million (US$2.4 million) as its share of the profits from the just concluded 1999 World Cup.

"No firm figures will be available until August, possibly September," West Indies Cricket Board (WICB) chief executive Stephen Camacho said here on Saturday.

"But preliminary reports indicate that each board should receive around £1.5 million."

Michael Browning, event manager for the World Cup, said ticket sales would boost the profit well above the predicted figure.

According to him, average crowds represented more than 95 per cent of the total ground capacity with ticket prices ranging from £16 for first round matches to £100 pounds for the final.

Gross income is anticipated to be between £50-£55 million. It comprises taking from sponsorship of £10 million, broadcasting rights of £24 million, concessions and ticket sales.

The fact that there were only four main sponsors - Natwest Bank, Emirates Airline, Pepsi-Cola and Vadofone (mobile telephones) -instead of the expected eight affected profits.

Tim Lamb, chief executive of the England and Wales Cricket Board (ECB) that organised the World Cup in behalf of the ICC, said that "no one can question to global success of the tournament".

"It was an event enjoyed by hundreds of millions of viewers worldwide, led to a massive increase in television sales in Asia, a national holiday in Bangladesh and the sale of thousands of items of memorabilia in the United Kingdom," he boasted. "The World Cup will leave a lasting legacy."

The ECB itself is expected to benefit by as much as £13 million from the success of its organisation.

Camacho is in London for the annual meeting of the International Cricket Council (ICC) that started at Lord's on Saturday and ended Sunday. The WICB were represented at the meeting by president Pat Rousseau and vice-president Clarvis Joseph with Camacho as an observer.

Rousseau attended the ICC's executive board meeting last week Monday. That discussed the reports of the various ICC committees dealing with finance, marketing, management, development and the game itself.

Among agenda items at the annual meeting are a review of the most recent World Cup and reports on planning for the 2003 tournament in South Africa, an application from Bangladesh for full Test status, the staging of the next mini-World Cup following the first in Bangladesh last October and preparations for the ICC Trophy in 2001 in Canada and the Youth World Cup in Sri Lanka.

Source :: The Trinidad Express (https://www.trinidad.net/express/)