If talks already exceeding 100 hours with the American billionaire Sir Allen
Stanford bear fruit, English cricket could pull off one of the sport’s most
startling coups. It could be as neat logistically as it is financially
advantageous.
At a stroke, England’s top stars could be enriched by millions of pounds for
only a few extra days of work, and crucially saved from burning themselves
out playing in the Indian Premier League (IPL), while the 18 first-class
counties could hope to be greatly better off from a strongly funded English
Premier League (EPL), likely to start in 2010. After much speculation, it
seems Twenty20 cricket truly is about to transform the landscape.
ECB officials were remaining cautious yesterday about a deal, but it seemed
clear that what Stanford said in interviews was a fair reflection of a week
of negotiations. Close to agreement, it appears, are an annual challenge
match between England and a Stanford West Indies XI for a $20m (£10m) purse,
and an annual quadrangular international Twenty20 event at Lord’s, possibly
starting this year.
One source said lawyers were working through contracts and it is known that
during a week of frantic activity, Giles Clarke, the ECB chairman, travelled
to Leeds to hold talks with England Test captain Michael Vaughan, while Hugh
Morris, the managing director of the England team, met Kevin Pietersen, the
likeliest target of an approach from the IPL. The board really doesn’t want
him to go there.
The ECB management board held a conference on Friday afternoon to discuss
Stanford’s plans, and a Lord’s representative was present, but most county
officials remained in the dark. No other grounds had been invited to stage
the quadrangular tournament because Stanford wants his matches at cricket’s
headquarters, where he received a conducted tour.
A senior source insisted that several other backers were interested in
investing in English Twenty20 cricket. “We have spoken to a lot of
corporations, including some from India, who are keen to get involved,” he
said. “They respect the integrity of our board and the longevity of our
structure.
“Allen Stanford has tremendous cricket credentials and we are in serious
discussions with him. We would not have countenanced such discussions if we
didn’t think he could execute what he says he can, but at the end of the day
we are dealing with a businessman and doing a transaction with a single man.
The devil is always in the detail.”
His American background makes Stanford, 58, an unlikely white knight, but he
has been a Caribbean citizen for almost 10 years, long enough to appreciate
what cricket means to the region. Any deal will benefit West Indies’ cricket
as well as England’s; it is no coincidence that these are the regions whose
seasons clash with the IPL and could be most hurt by it.
Stanford built up his vast fortune – estimated at $2 billion – through an
insurance and real estate business founded by his grandfather. This doesn’t
make him the richest man involved in cricket today: Subhash Chandra, the
owner of Zee TV, who is bankrolling the rebel Indian Cricket League (ICL),
is believed to be worth about $2.3 billion. Forbes magazine ranks Stanford
as the 239th-wealthiest man in the world, three places below Sir Richard
Branson, a likely co-investor in an EPL.
The ECB may not decide on a plan for an EPL until late May, but little
credence is being given to the idea, floated by Sean Morris of the
Professional Cricketers’ Association, that the counties will merge into six
franchises. “There will be no fewer than 18 teams in an EPL,” said an ECB
official. “The questions are: who plays in it? Do we have foreign teams? And
what is the structure?”
England’s scepticism about the viability of the IPL may yet be vindicated.
Reports are surfacing of players not being paid, and Australia’s decision to
tour Pakistan next April threatens to deprive IPL’s 2009 season of many
stars. Stanford, who sang the praises of the ECB’s management talents,
clearly believes he is backing the right horse. He was born in Mexia, Texas,
but became a citizen of Antigua and Barbuda in 1999. Since then his
investment in the Caribbean and involvement in the region’s affairs has
grown steadily. Outside the government, he is the largest employer in
Antigua.
The Caribbean has benefited hugely from his philanthropy. His self-declared
mission is to halt the migration of talent to more affluent areas of the
world, bolster tourism and protect the region’s culture. This has led
Standford (the first American to be knighted by Antigua and Barbuda) to
support golf, polo, tennis and sailing. But nothing compares to what he has
done – and plans to do – for cricket. The game historically unified the
Caribbean in a way nothing else could match, but had fallen into steep
decline. He built his own ground across the road from Antigua’s
international airport.
In 2005, when Twenty20 cricket was two years old, Stanford announced plans to
stage a Twenty20 tournament in the Caribbean. If that was a surprise, it was
quickly dwarfed by the shock at the size of his initial outlay – $38m. This
was gold indeed; in 2006 the West Indies board’s deficit was $15m.
At first the board was suspicious, but Stanford’s intentions proved good: all
of the 19 teams that participated in the inaugural Stanford Twenty20
received $280,000 for development. Last year he and the board agreed a
five-year deal worth about $110m, an arrangement which should ensure that
West Indies cricket stays afloat.
Stanford conceded last week that he would like a return on his cricketing
investments, just as he would on any other venture, and his dream – like
others before him – is to take cricket into the American market. His
Twenty20 event included teams from the US Virgin Islands, and matches were
available to American tele-vision audiences. He recently staged some
Twenty20 matches in Florida by way of experiment. He finds Test cricket
boring, while accepting that its place is sacrosanct, but believes that
Twenty20 cricket could be an Olympic sport and eventually hold pride of
place as the world’s leading team sport, ahead of football.
An early step along that road is staging international Twenty20 matches in the
Caribbean. So far there has been none. Two years ago Stanford offered $5m
for West Indies to play South Africa, but a gap could not be found in the
schedule. Last year he invited India’s world Twenty20 champions to play for
$10m, but the Indian board turned him down. Having blackballed Chandra’s ICL
on the grounds that it was a privately funded event, it could hardly do
otherwise. Now, at last, it seems he has found an international ally in
England.
Stanford’s vision
Stanford’s All Stars play an annual Twenty20 match against England in Antigua,
with a $20m prize-fund, including $15m to the winning squad and backroom
staff. It would start this November and possibly last until 2012
An annual three-match Twenty20 tournament at Lord’s with England, Stanford’s
West Indies team and two other international sides and a $10m prize-fund
Stanford is willing to invest an unspecifi ed sum in an English Premier League,
probably based on 18 counties plus overseas teams
The man with all the money
Who is Sir Allen Stanford?
- A 58-year-old Texas billionaire
How did he make his money?
- He began his career in Houston, making money in real estate in the early
1980s. Since then he has expanded the insurance and real estate company his
grandfather founded in 1932 into a global wealth management business
How much does he control?
- Stanford Financial Group’s clients are affl uent investors, institutions and
emerging growth companies from 136 countries on six continents. Assets under
management or advisement are in excess of $50bn
Where does he live?
- He became a citizen of Antigua 10 years ago and was knighted in 2006 for
services to the community and helping the economic development of the island
Why is he interested in cricket?
- He went to watch a few games and was bitten by the bug
What has he done to help the game in the West Indies?
- He has pledged more than £60m to West Indies cricket over five years
Why?
- He says he wants a return to the golden era
What is he doing for the ECB?
- He wants to fund a Twenty20 match between England and a West Indies All
Stars side and is keen to sponsor a Twenty20 league in England that will
rival the Indian Premier League
Has he sponsored any other cricket tournaments?
- He created the Stanford Twenty20 event in the West Indies
