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 was down from just over US$88 mil­lion in 2024 to close to US$41 mil­lion for the year 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 is­ports 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.

“…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? 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 in­ten­tion­al­ly, 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 just 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 with re­gard to 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. 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 give a give plus, be­cause it’s PR,” Browne said.

CMC