The ICC is looking into the USA’s overspending during the T20 World Cup 2024. The International Cricket Council is seeking explanations for the overspending. Potential losses in the USA segment could reach millions of dollars.
The ICC undertook a big project in New York. They built the Nassau County International Stadium from scratch in just 106 days. This venue hosted eight T20 World Cup 2024 matches. It included the much-anticipated India-Pakistan clash. The United States hosted 16 of the 55 matches in the World Cup.
ICC Board to Discuss Financial Overspend of US Leg of T20 World Cup 2024
A report says the ICC Board will meet in Colombo this weekend. They will focus on why the costs of the US leg of the T20 World Cup exceeded the budget. The cricket board will determine who should be held accountable for the overspending.
The report added that an ICC board director said the first budget for the US leg of the T20 World Cup was $40-50 million. They allocated $15 million for operations. They allocated about $30 million for building the temporary stadium. It will be near New York City.
T20 World Cup USA Inc.’s $20M Loan Request Alarms ICC Directors
Before the big tournament, T20 World Cup USA Inc asked for $20 million. They are the US entity managing the US part of the tournament. This last-minute request alarmed several board directors. They asked why there were no earlier warnings. Or, why no one flagged issues with the budget.
But, on the eve of the World Cup, T20 World Cup USA Inc sent a request for $20 million. The ICC’s commercial arm IBC created the US-based entity to run the US leg. This “outraged and alarmed” many board directors, a second director said. A report by ESPNcricinfo said they were upset that the request was made at the last minute.
An official organized the tournament. He clarified that T20 World Cup USA Inc. asked for $20 million. was not for an extra budget but was intended as a loan to manage cash flow and cover operational expenses. “T20 Inc. had to pay people and needed a cash injection as a loan.”
Several ICC directors are concerned. They are concerned about the loan request that resulted from excessive spending. Other board heads raised issues too. Khimji called for an investigation into the US part of the tournament.
The ICC removed USA Cricket as a co-host. They did so due to its governance and financial problems. The CWI took over as the main host of the T20 World Cup. T20 World Cup USA Inc. is a new not-for-profit. It took over as the US Local Organising Committee for the tournament.
