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CWC 2007 Inc. nets US$53.9 million surplus
http://www.caribbeanpressreleases.com/articles/2955/1/CWC-2007-Inc-nets-US539-million-surplus/Page1.html
S Coward

 
By S Coward
Published on 03-Mar-08
 
st. John's, Antigua -- Mar. 3, 2008 --The audited report of the ICC Cricket World Cup West Indies 2007 Inc. (CWC 2007) shows that the tournament had an overall surplus of US$53.9 million, believed to be the highest event surplus in the history of the Cricket World Cup. Of this amount, US$29.3 million was paid out to the Local Organizing Committees on behalf of the Governments of the Caribbean as of December 2006. The WICB will also be further sharing 25% of its portion (US24.6 million) of the profits with the territorial cricket boards.
Ticket sales highest in World Cup History

St. John's, Antigua -- Mar. 3, 2008 -- The audited report of the ICC Cricket World Cup West Indies 2007 Inc. (CWC 2007) shows that the tournament had an overall surplus of US$53.9 million, believed to be the highest event surplus in the history of the Cricket World Cup. Of this amount, US$29.3 million was paid out to the Local Organizing Committees on behalf of the Governments of the Caribbean as of December 2006. The WICB will also be further sharing 25% of its portion (US24.6 million) of the profits with the territorial cricket boards.

The financial performance included audited ticket sales of US$31.4 million, the highest ever recorded in the history of the Cricket World Cup.

This was disclosed after the Board of CWC 2007 received and approved the report of the auditors, KPMG, at its final board meeting held today.

The Chairman of CWC 2007, Kenneth Gordon expressed his satisfaction with the results and the performance of the board and management in the delivery of the event.  "We have received an unqualified audit report which shows a very respectable financial performance and the maintenance of financial integrity in our operations. We have completed our task and look forward to the legacy of our efforts," Mr. Gordon stated.

The Chairman also disclosed that the Final Tournament Report and Audited Financial Statements are to be sent to the WICB President and to the CARICOM Secretariat.  They will also be made available to the public so that the important lessons learned from the staging of the event can be widely disseminated.

WICB President, the Honourable Dr. Julian R. Hunte, served as a director of CWC 2007 since its inception and was a part of the original WICB team which successfully bid for the right to host the event back in 1998.  He expressed his thanks to the CWC Board:  "On behalf of the WICB, I would like to express our deepest appreciation for the hard work and dedication by the CWC 2007 board of directors, management and staff. It was an exceptional performance and you deserve high praise for the successful outcome of the event."

Source: windiescricket.com