Zimbabwe decline ICC bail-out plan

"We have a business plan that is driven by restructuring and whose key dynamic is to cut down on costs"

“We have a business plan that is driven by restructuring and whose key dynamic is to cut down on costs”

Image courtesy of: ESPNcricinfo

Zimbabwe Cricket have declined an offer from the International Cricket Council (ICC) to help bail them out of their financial debts.

The board announced that they will restructure the entire organisation with the mindset of reducing their expenses.

According to sources, the ICC was willing to lend Zimbabwe Cricket $16 million to clear their debts, but in return they had to undergo a major reshuffle, cut down on the number of staff and operate under an appointed administrator.

“This is a matter of strict confidentiality between ZC and the ICC,” Zimbabwe Cricket’s media and communications manager Lovemore Banda said. “We have a business plan that is driven by restructuring and whose key dynamic is to cut down on costs.”

Leave a Reply