Texan Billionaire Stanford’s USD 100 million to West Indies Cricket

July 6th, 2007

Texas billionaire Allen Stanford has given West Indies cricket USD 100 million over three years. Stanford told that most of the funding would go towards grassroots development to prepare for the second Stanford Twenty20 tournament early in 2008.

The announcement came with the news that two new sides, Cuba and Turks-Caicos, would join the existing 19 teams for the month-long Stanford 20/20 tournament to be held from January 25 to February 24 . Turks and Caicos will receive USD 100,000 in capital investment funding and USD180,000 to spend on the development of players and coaches, and the maintenance of facilities and equipment. Stanford said international policies meant the same funding could not be given to Cuba, but the Stanford 20/20 board would offer support in other ways.

The 21 teams will compete for a top prize of USD 1 million with the losing finalists getting USD 500 000. The 21 teams in Stanford’s tournament will each receive monthly grants of USD15,000 with Cuba’s funds distributed to the cricket council for government sporting programs because of some legal reasons.The overall prize money is USD 2.9 million.

Stanford said,

“We can’t wait two decades to regain the golden era of West Indies cricket. We are stuck in the 1950s and 60s. We can’t allow ourselves to stay stuck forever. We have to come into the 21st century,”

The glory years of West Indies cricket were between 1980 and 1985 when they were undefeated in a test series.

Four international teams to compete for USD20 million

Allen Stanford has expanded his 20/20 Super Stars concept with USD 20 million up for grabs for the winning team. Stanford plans to invite four ICC teams to Antigua to play each other in a single elimination knockout system, with the winning team to take on the Super Stars for the USD 20 million jackpot.

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