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  • 2 years ago
Caribbean Premier League CEO Pete Russell has defended the tournament following Prime Minister Dr Keith Rowley calling the CPL contract as lop-sided, which sees a 50-year deal between CPL and CWI.

Russell says the CWI are also shareholders of the CPL and are privy to CPL's financial statements.

Added to that, despite the losses made, Russell says the CWI and players still benefit from the tournament.
Transcript
00:00Over the past 11 years, cumulative losses across both the league and franchises
00:06stands at close to 40 million US dollars. Dennis O'Brien and Digicel have been the
00:12principal investors, not only investing in the league from day one but they also
00:16spent money on sponsorship and media rights. The franchises have also pumped
00:22in significant money, money that helps pay players and coaches as well
00:27as investing in local businesses around the region that help make the games
00:31happen. All the franchises have made losses. So on the positive side, Cricket
00:38West Indies have been paid close to 17 million US dollars in sanction fees. So
00:43over the past 12 years, CPL would be one of CWI's largest domestic commercial
00:48partners. Caribbean players have taken home 27.7 million US dollars in player
00:56salaries since the tournament's inception.
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