New GPC pulls out of proposed Bourda Stadium Deal

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[www.inewsguyana.com] – Following media reports that the New GPC wanted to buy over the Georgetown Cricket Club (GCC) and the Georgetown Football Club (GFC) and build a stadium, the company (New GPC) has pulled out of the deal.

A press release from New GPC/Limacol Brand noted that “the principals of Limacol have decided that they will not proceed further with its offer on the Bourda project. In the world of business, into which cricket had ventured in the present millennium, the issue of confidentiality is crucial and it is evident that this requirement will pose a problem for any joint venture between the Limacol brand and the GCC and GFC.”

According to New GPC, it was the members of the board of GCC, who initiated the discussions with representatives of the Limacol brand to have a number of LCPL games scheduled at Bourda.

According to the Company, “During subsequent discussions, it was pointed out that as far back as the scheduling of the International Cricket Council (ICC) T-20 World Cup cricket tournament of 2007, the facilities at Bourda could not satisfy the criteria for international cricket at the highest level. It was conceded that subsequently, the facilities had continued to decline in an exponential fashion.”

The Company noted that they reiterated their concern over the impact of this decline on the city of Georgetown in general and on its cricket and football heritage in particular, from economic, social and sport development standpoints.

“The Limacol brand then submitted a proposal that addressed these issues:

a) The world class stadium, with all its amenities, would have returned international cricket and football to Georgetown along with an economic resurgence;

b) The financial structure of the endeavour would have ensured that GCC and GFC share in the profits generated which would have enabled these clubs to return to their glory years.

c) The principals of Limacol are particular proud of their proposed cricket and football academy. The youths of Georgetown, as with any city in the world, need positive outlets for their energy. The academy could have been one of the institutions that would have provided the support and guidance to the many who are talented in the sports. The overall country wide development of cricket and football would also have been facilitated.”

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