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Stanford and ECB reveal details of $20m match

11/06/2008

The world's single richest sporting event will take place in Antigua on November 1st between the England and West Indies cricket teams.

A prize of $20 million (£10 million) will be awarded to the victorious side in what will be the first of five annual Twenty20 cricket matches, organised by Sir Allen Stanford, the England and Wales Cricket Board (ECB) and the West Indies Cricket Board (WICB).

At the launch of the 'Stanford 20/20 for 20', presented to journalists at Lord's this afternoon, Sir Allen - who is the chairman of Stanford Financial Group and the founder of the Stanford 20/20 tournament in the Caribbean – said he considered the five-year series "an investment" in the development of cricket in the region.

"I see the Stanford 20/20 for 20 as a fantastic opportunity for current players in the Stanford 20/20 tournament to take a giant leap into the spotlight and gain exposure to top-class opposition," he said.

"The Stanford 20/20 for 20 will be a highly-anticipated event, not just because of the prize money but because of the traditional friendly rivalry that exists between England and the West Indies."

The match will be a 'winner-takes-all' contest, meaning either England or the West Indies will scoop the huge prize pot with the losers earning nothing.

Chairman Giles Clarke said the ECB board are "extremely delighted that Sir Allen has chosen to work in partnership with the ECB".

"These matches will offer a chance for not only international cricketers but cricket at all levels - both here and in the Caribbean - to benefit," he said.

"It is a hugely exciting time for cricket and particularly Twenty20 cricket."

WICB president Julian Hunte echoed the sentiments of Giles and Stanford, saying the announcement represents "an important day for West Indies cricket and our emphasis on cricket development".

"The goal we have set ourselves in our strategic plan is to regain our rightful place at the pinnacle of world cricket by 2012," he said.

"To achieve this goal we need to have more people, especially our youth, developing a passion for the game.

"The financial support and the partnership with Stanford 20/20 and the ECB are pivotal to the future of West Indies cricket.

"Right now, we are everybody’s second-best team. In four years we will be the best team in the world."