What impact will Stanford charges have on cricket?

February 17, 2009

U.S. authorities charged Texas billionaire Allen Stanford and three of his companies with “massive ongoing fraud” on Tuesday as federal agents swooped in on his U.S. headquarters.

The England and West Indies cricket boards quickly suspended sponsorship negotiations with the financier following the news.

Stanford came to prominence in the cricket world following his private Twenty20 competition in the Caribbean and, in particular, the $20 million game in November between England and his own team made up of West Indian players.

ECB chairman Giles Clarke said his organisation was now weighing up the possibility of utilising get-out clauses in its agreement with Stanford.

Is this a shock ending to Stanford’s controversial interest in cricket? The sport could suffer serious damage in the fallout.

PHOTO: Texan billionaire Allen Stanford is shown during an interview with Reuters in Miami, May 1, 2008. REUTERS/Joe Skipper

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