West Indies cricket [Source- AFP]In a shocking update, Cricket West Indies (CWI) will not hold two of its domestic competitions due to financial constraints. It is no secret that the West Indies board has been facing a massive money problem for quite some time, which is directly proportional to their teams’ performances in recent years. Although West Indies Women regularly feature in ICC events, the men haven’t had the same luck in Maroon. Yet again, the West Indies men’s team have failed to bag direct qualification for the upcoming ODI World Cup. CWI suspends two domestic tournaments due to financial constraintsDue to the financial constraints, CWI has decided to suspend hosting two of its domestic competitions, i.e. the Super50 tournament and the women's T20 Blaze. As Chris Dehring, the CEO of the board, said, they have spent nearly $80 million out of their own pockets over the last 15 years on travel, hotels, salaries and staging the domestic matches. Moreover, they also took a loan from the ICC totalling $16 million, but it will be available in 3 tranches over the next year. However, CWI wants to be smart, and it would like to spend these funds, which will come with repayment terms and conditions. Read More: West Indies Players Who Can Pose A Threat To India In Upcoming ODI Series“Our domestic tournaments as structured historically, where Cricket West Indies bears the entire cost of every national team and tournament - whether it is age-group, development or senior for both men and women,” Chris Dehring told Cricinfo. “Over eighty million US dollars has been spent by Cricket West Indies with domestic airlines over the past 15 years, without a reciprocating dollar of sponsorship from those beneficiaries,” he added.West Indies players to get 25% pay cut in annual contractsNot only that, CWI has decided to hand a pay cut to all West Indies players, shaving 25% off their annual retainer fees. With their top players already known to reject their national contracts to play as free T20 agents, this move by the West Indies board will only push them away from their national duties.However, the board has full faith in the West Indies Players' Association, which would likely cooperate with them in the tough phase. "We appreciate the spirit of cooperation of the West Indies Players' Association and the players who have demonstrated their understanding of the circumstances we all face," CWI chief executive Chris Dehring said in a statement. "While not ideal, it is a necessary step towards financial stability,” the CWI CEO stated. CWI announces replacements for Super50, T20 Blaze Meanwhile, in place of the suspended tournaments, the Cricket West Indies has announced the qualification tournaments for the men's and women's events at the 2028 LA Olympics.The talks about the new invitational tournaments are underway between the CWI and the ten countries that form the Caribbean Islands. Meanwhile, the Windies board won’t cover the expenses of the newly formed tournaments; those costs will be shared with the cricket boards of the individual nations hosting them. Nevertheless, West Indies' Men will be next seen in the white-ball series against India in the sub-continent. Meanwhile, the Women in Maroon are currently playing the Chevrons Women in Zimbabwe. Read More: How Have Indian Captains Fared In 1st ODI Series Vs West Indies Before Shubman Gill?