LONDON: American billionaire Allen Stanford’s proposed investment in an English Twenty20 competition looks likely to go ahead after the England and Wales Cricket Board said everyone would benefit from the deal.

Stanford met with the ECB last week to discuss bankrolling an English version of the Indian Premier League, predicting it could be worth as much as £500 million.

“I thank Sir Allen for his interest in cricket in England and Wales, and most of all I thank him for believing that the ECB is the right vehicle through which to expand his patronage in cricket,” ECB chairman Giles Clarke said on Tuesday.

“I hope to give more details in the days and weeks ahead, but I can guarantee that everyone in the game will benefit from this deal.” — AP

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