Do we have suggestions to clear off the heavy ZC debt?

[Googly]

The best way to clear the debt is to get an impartial and professional outfit to establish what the debt actually is. I’m not sure the figure and associated interest would stand up to much more than a perfunctory scrutiny. And then pursue the people involved if it’s proven there are anomalies.

[eugene]

Lobby Robert Mugabe, as patron of ZCF, to pay off the debt in exchange for Grace's immunity.

Patron of ZCF? From when?

This was the first thought I had too, in terms of getting the debt cleared quickly.

I'm almost regretting this thread already.
It's guaranteed to attract some troll with suggestions such as: get rid of the Pakistani/ Heath Streak.
Reinstate the admin who made Zimbabwe great between 2005-2011.
Get rid of Taylor & Jarvis.
My ears & eyes are bleeding already!

Yeah, but the idea of this thread is not to how we operate and how we save not-so-significant amounts of money now in daily operations, etc (this is needed too, but a quicker resolution to repaying the huge debt is more attractive). How do we get back to clean slate as quickly as possible with that debt?

If getting rid of anyone can save enough money in a year to pay off that debt, I'm all ears. But it should come along with accurate calculations in such a case

I of course meant ZC, although perhaps ZCF needs a patron? I suggest Alistair Campbell.

[jward]

Cut down on salaries. Cut back on unnecessary staff. Sell some of the excessive luxuries bought such as cars. The key thing is the money recouped from that has to go back in to the right areas and a clear plan and pathway needs to be developed for that.

Most of this has already been done. Numerous former ZC employees have lost their jobs over the last few years, more in fact than have been retained, and they are now down to essential staff only, while there are no unnecessary cars left.

[pariah]

Cut down on salaries. Cut back on unnecessary staff. Sell some of the excessive luxuries bought such as cars. The key thing is the money recouped from that has to go back in to the right areas and a clear plan and pathway needs to be developed for that.

Most of this has already been done. Numerous former ZC employees have lost their jobs over the last few years, more in fact than have been retained, and they are now down to essential staff only, while there are no unnecessary cars left.

I told them that weeks ago. Even posted an entire article. They are just downright stubborn!

As journalists you should look to dissect the cold facts.

1. When ZIM was looking to get back to Test cricket there were several things done at Alistair Campbell, Dav Houghton etc's direction. Plus ventures involving Dirk Viljoen too. This was largely to do with Domestic Cricket - Franchises, Chief Executives, Foreign Imports, T20 Competition etc. Several high profile FC A team tours were hosted, including some A team Tri Nations. Foreign coach appointments at Franchise and International level.

2. A number of incoming Test tours were hosted.

Zimbabwe Cricket financed all of these using loans because it was necessary and inevitable.

Still, it might be proven that the costs were justified, and no funds misused, but the argument might be made - "Why that financial institution, were the interest rates fair, and how did ZC figures who were directors in the lending financial institution benefit?"

Again the question to journalists is - "What other financial institutions were approached, and what were the comparative quotations?".

My view is no other institution would have lent ZC money including the ICC. Recall even the ICC itself had failed to find any prior evidence of mismanagement on ZC's part (ie Chingoka and Bvute). In fact, it was the ICC which imposed capital intensive demands on ZC to begin with. So the fact that ZC management made up the lending institution's board was actually an advantage to ZC.

To accuse them of anything untoward is an attack on Zimbabwe's entire Financial Sector and its stewards. Perhaps the only thing remaining is insider trading, and who would be foolish enough to believe that GreeceZC are THE perfect non-defaulting client with a near 1% interest credit risk profile???

I have seen enough evidence to suggest that this Pakistani is by far the most useless administrator to ever run ZC/ZCU! And he will never be eclipsed!!! When he arrived, the path was already clear - no more Franchise structure, just Provincial. Restructuring done - employees and other cost cutting etc. No Test cricket linked bills. A healthy relationship with BCCI keeping ZC afloat with regular tours.

If he had come in and done absolutely nothing but scratch his backside ZC would be in a better shape and this loan reduced.

This Pakistani is useless. Shocking to believe he ever managed the ICC finances! Then again, maybe he did.

NB: How long do journos around ZC honestly think they an continue without commenting on ZC-India/BCCI?

[Andybligzz]

Only ever play in India

[TapsC]

I will agree that we need to actually get a breakdown of how exactly this debt built up. we spent a lot of money for that t20 comp. who organized it? and even getting foreign guys to coach local teams was expensive. the spending at that time was extremely reckless

[Conant]

I will agree that we need to actually get a breakdown of how exactly this debt built up. we spent a lot of money for that t20 comp. who organized it? and even getting foreign guys to coach local teams was expensive. the spending at that time was extremely reckless

Lara was paid - what - a million bucks to play a game then scratch his backside at a South African resort? He should pay back that money.

[brmtaylor.com admin]

I will agree that we need to actually get a breakdown of how exactly this debt built up. we spent a lot of money for that t20 comp. who organized it? and even getting foreign guys to coach local teams was expensive. the spending at that time was extremely reckless

Lara was paid - what - a million bucks to play a game then scratch his backside at a South African resort? He should pay back that money.

Nah, I thought it was more in the realm of $50k. It might even have been as low as $10k. The Stanbic stuff was before all the T20 leagues became big business, IPL excluded.

[pariah]

I will agree that we need to actually get a breakdown of how exactly this debt built up. we spent a lot of money for that t20 comp. who organized it? and even getting foreign guys to coach local teams was expensive. the spending at that time was extremely reckless

Lara was paid - what - a million bucks to play a game then scratch his backside at a South African resort? He should pay back that money.

Nah, I thought it was more in the realm of $50k. It might even have been as low as $10k. The Stanbic stuff was before all the T20 leagues became big business, IPL excluded.

So Dirk Nannes, Shaun Tait, Lara an Gayle came for peanuts???

Never let Kriterion come into this forum and tell you Asians run the game better. Lalit Modi has got nothing on AC!!!

If you had said Andre Nel came for us$10k-50k then you would have made more sense.

OK then, ZC, Tristan, Firdose and Liam should have little problem breaking down ZC's financial history right??? After all, what's us$10k?

[brmtaylor.com admin]

I don't think any of them came for huge money. As I said it was before the franchise "league" craze took off around the globe.

I think one of the players (Greg Smith) just happened to be in the region, made a few phone calls and rocked up to play. It was hardly like it was raining money, although by Zimbabwe standards it was probably a rather expensive tournament.