Wednesday, December 17, 2008

Stanford bailing out?

If true, this is not good, especially for Windies cricket:
The newspaper claims that Stanford decided on Tuesday to axe his so-called board of legends, whom he had recruited as brand ambassadors. It reported that he lost more than US$40 million on the inaugural Stanford 20/20 for 20 and failed to break into the lucrative US television market, which was one of his core objectives. [LINK]

Personally, I'm not sure why Stanford is looking to break the US market. Even soccer has appalling ratings, and it's been around for so long. Not to mention that the US is a half-decent team (qualified for five straight World Cups) and that it is the number one sport played in school. No harm in trying I guess, but betting loads of cash on it is a foolish and pointless idea, IMO.

A Stanford bailout would also confirm the fact that all roads to cricket riches go through the BCCI and Indian corporate sponsors. And that's not necessarily a bad thing at all (my only reservation being the banning of ICL players, but that's a separate issue for another time).

Make your pitch on this post...

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3 Pitched:

  1. Damith S. said...

    Stanfords a businessman, pure and simple. He tried something, it flopped now he's going to bail out.

    He never cared for WI or Cricket. Just the cash.

  2. Q said...

    I don't think its the failure of the concept that is leading Stanford to bail out - the concept, i.e. 20-20 cricket is a sure shot success, but probably in the longer term. Even the IPL and the ICL will take several more years to break even.. and then the money will start to come in...

    The bigger issue here is that Stanford owns an investment company.. he provides asset management, investment advisory, brokerage and the works - with the mess the financial sector is in right now, Stanford has probably lost millions - in hundreds!

    He simply can't afford to spend on cricket if he doesn't have the money..

  3. scorpicity said...

    I think this is a bluff. Wait and watch.

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