Zimbabwe Cricket’s financial woes continue
"Financially, we are not doing very well. The latest loss you will have seen from our report is that we're down about $4.2 million last year. We're carrying serious bank loans now which basically stagger us from one four-year cycle to the next," ZC chairman Peter Chingoka said on Sunday.
Although ZC was expected to make between $6 million and $8 million from the recent tour of India, Chingoka confirmed that it will incur a loss of around $1 million per tour from hosting Bangladesh, Pakistan and Sri Lanka in 2013.
Cricket in Zimbabwe is already functioning in a threadbare environment, with ZC cutting its disbursements to franchise cricket by more than 50 per cent in 2012, and expenditure on players and officials falling from $4.48 million in 2011 to $2.14 million last year.
That may be a pittance on which to run a nation of Test cricketers, but without any answers to the current financial problems, Chingoka suggested that belts may be tightened further.
"We could say, for us to avoid a problem at the bank, let's do away with junior tours, but what does that do for those kids in terms of development?" Chingoka said.
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