Nothing to boast for World Cup hosts!

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If the Cricket World Cup was a time for sponsors and the ICC to make mucho moolah, then the same does not apply for the governments that invested millions to make the event happen in the first place. According to a clause of an agreement between the ICC, the West Indies Cricket Board (WICB) and the nine host countries, the ticket proceeds were to be returned to each of the hosts to help them recover the high costs of holding the tournament. At a time when the tournament recorded the highest ticketing revenue for a Cricket World Cup – selling more than 570,000 tickets, profits shouldn’t be much of a problem, right? But check this – while the Government of Trinidad and Tobago invested $15 million for the World Cup, it only got $1.5 million in return from the revenue collected! In a rather untimely statement, ICC’s CEO – Malcolm Speed – expressed satisfaction on Trinidad and Tobago’s hosting of its part of the World Cup. We bet the only response from the government must have been a muted “Yeah, Right!”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative