West Indies team and Jay Shah [Source: AFP]The Jay Shah-led International Cricket Council (ICC) has approved a massive loan for Cricket West Indies (CWI). The global body announced the loan in a bid to assist CWI amidst its repeated financial hurdles over the past several years. The ICC confirmed the decision during its annual general meeting in Edinburgh, where the council also made several other changes pertaining to ODI and T20I World Cup formats.West Indies Cricket to receive massive financial supportCricket West Indies have been handed out a loan of USD 12.82 million by the Jay Shah-led ICC. The apex body sanctioned the loan to assist the West Indies board in their financial struggles.It is worth noting that the board had been seeking ICC support for a while, and the concerns about their repeated financial struggles have also been raised by several former West Indies cricketers in the past.Also Read- Jason Holder Not Retired! Daren Sammy Revokes BlunderThis will not be the first instance of ICC bailing CWI out of a financial hardship. Back in 2012, Cricket West Indies as well as Zimbabwe Cricket received assisted funding from the apex body.Moreover, even in 2020 during the worldwide COVID pandemic, CWI received a loan of USD 3 million from the England and Wales Cricket Board (ECB). The West Indies board has since duly paid back the loan to its English counterpart.West Indies Cricket on a trail of financial lossesAs per the audited financial statements of Cricket West Indies for the year ending on September 30 back in 2025, the board reportedly suffered losses of USD 28 million. The losses came as a surprise to many considering the board made a net profit of USD 24 million in the preceding year. With several forecasts indicating further losses for CWI in the 2025-26 cycle, the board’s statements indicated that it required financial help from the ICC. Apart from approving the loan, the Jay Shah-led ICC will also likely be assisting West Indies Cricket with commercial banking credit facilities in a bid to close the funding gap. The financial assistance is expected to provide Cricket West Indies with much-needed stability as the board works towards improving its long-term financial position.ICC revamps World Cup formatsThe Jay Shah-led ICC also made some alterations to the formats of the T20 World Cup and ODI World 2027 Cup events. The apex body added one round each in both tournaments, with the addition being a round-robin Super Series for the 50-overs event. The 2027 ICC Cricket World Cup in South Africa next year will feature 14 teams, as opposed to 10 participants from the preceding two events. In the Men’s T20 World Cup, the number of teams for the second stage of the competition has been increased from eight to 10.The T20 World Cup itself will start out with 20 competitors, in five groups of four teams each as opposed to four groups of five teams.Also Read- Gautam Gambhir's Head Coach Tenure Gets Poorly Rated By Indian Greats
