FirstStLucian
10-04-2005, 04:00 PM
(AP) -- Billionaire Texas businessman Allen Stanford announced a $28 million investment in West Indies cricket that he said was aimed at returning the region to its former glory in the sport.
The bulk of the money will pay for a "Caribbean Super Stars" team that will play two matches against "two world-class teams to be named" in November 2006, Stanford said Monday at a launch attended by Antigua Prime Minister Baldwin Spencer.
"This will be winner-takes-all competition and the grand prize in each match will be $5 million," Stanford said.
Stanford also announced a $6 million Stanford 20/20 tournament that will include 17 regional sides, including teams from the Cayman Islands and Bermuda. The tournament will be played over five weeks between August and September.
"We are going to find the best talent in the Caribbean and once we find the players they will go to the super league," Stanford said.
The investment includes funds for training, practice fields and equipment, financial support for players and coaches and marketing and promotion of the tournament, Stanford said.
The matches, which will be televised lived throughout the region, are aimed at boosting the quality of West Indies cricket, which has been in sharp decline over the last decade after years of dominance, Stanford said.
"We are going to create a model and platform to re-energize cricket," he said. "Cricket can no longer be a social event. You've got to bring masses of people to watch the game."
Several former West Indies cricket legend will sit on the board of the tournament, including former captains Clive Lloyd, Sir Gary Sobers, Sir Vivian Richards, Richie Richardson and Courtney Walsh.
Lloyd called Stanford's venture "potentially the single biggest private sector investment in cricket."
The teams invited to take part are Anguilla, Antigua and Barbuda, the Bahamas, Barbados, Bermuda, the British Virgin Islands, the Cayman Islands, Dominica, Grenada, Guyana, Jamaica, Montserrat, St Kitts and Nevis, St Lucia, St Maarten, St Vincent & the Grenadines and Trinidad and Tobago.
Stanford, of Houston, owns the Antigua-based Caribbean Star Airlines and has holdings in other ventures throughout the region.
(associated press)
The bulk of the money will pay for a "Caribbean Super Stars" team that will play two matches against "two world-class teams to be named" in November 2006, Stanford said Monday at a launch attended by Antigua Prime Minister Baldwin Spencer.
"This will be winner-takes-all competition and the grand prize in each match will be $5 million," Stanford said.
Stanford also announced a $6 million Stanford 20/20 tournament that will include 17 regional sides, including teams from the Cayman Islands and Bermuda. The tournament will be played over five weeks between August and September.
"We are going to find the best talent in the Caribbean and once we find the players they will go to the super league," Stanford said.
The investment includes funds for training, practice fields and equipment, financial support for players and coaches and marketing and promotion of the tournament, Stanford said.
The matches, which will be televised lived throughout the region, are aimed at boosting the quality of West Indies cricket, which has been in sharp decline over the last decade after years of dominance, Stanford said.
"We are going to create a model and platform to re-energize cricket," he said. "Cricket can no longer be a social event. You've got to bring masses of people to watch the game."
Several former West Indies cricket legend will sit on the board of the tournament, including former captains Clive Lloyd, Sir Gary Sobers, Sir Vivian Richards, Richie Richardson and Courtney Walsh.
Lloyd called Stanford's venture "potentially the single biggest private sector investment in cricket."
The teams invited to take part are Anguilla, Antigua and Barbuda, the Bahamas, Barbados, Bermuda, the British Virgin Islands, the Cayman Islands, Dominica, Grenada, Guyana, Jamaica, Montserrat, St Kitts and Nevis, St Lucia, St Maarten, St Vincent & the Grenadines and Trinidad and Tobago.
Stanford, of Houston, owns the Antigua-based Caribbean Star Airlines and has holdings in other ventures throughout the region.
(associated press)