USA-based CMG take over Barbados Tridents’ ownership

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The Barbados Tridents can now focus on Wednesday’s Hero Caribbean Premier League Draft after its ownership was assumed by the USA-based CMG Companies (CMG). In addition, Jason Holder has been named its marquee player.

The USA-based CMG Companies (CMG) lead a team of local and international investors in acquisition of the cricket franchise in Barbados.

CMG, through their affiliates, primarily own and operate franchise restaurants, hotels, and real estate across America, and are one of the largest owners of a major fast-food franchise. CMG are also no stranger to sports, with sponsorship deals with NBA teams including the Dallas Mavericks and several similar initiatives at the collegiate and grassroots levels.

Addressing the lucrative buy, Manish Patel, Principal of CMG, said, “Selling our ownership rights of the winning Jamaica Tallawahs, held from 2014-2016, was the right move for us as a business, but we missed being involved in the Region and in CPL.  When the chance to purchase the Tridents came along, we were delighted, especially with the opportunity to bring good, strong, local partners on board.  We can’t wait to get started at enhancing the profile of this team on and off the field, and in bringing a comprehensive sports entertainment package to Barbados.   We will work very hard to make Barbadians proud of their team.”

CMG Principal, Manish Patel

The new co-owners and local entrepreneurs, Kailash Pardasani of Promotech and Terrol Cummins and Arvind Gopwani of Silver Technetium Capital Inc. (STCI), are excited about the opportunity for Barbadians to venture into sports entertainment in an era where the new format of cricket has generated renewed excitement in investment opportunities worldwide, including in India, Australia and the UK, among others.

Tridents Co-CEO Kailash Pardasani reveals that the investment by local partners is “an investment in Barbados, and a vote of confidence in the resilience of its people and the resurgence of the country as a whole. Cricket has been an integral part of the fabric of our society, and has uplifted and united families and entire communities.  We are investing in that.  We couldn’t ask for better investment partners and for a better time to place our money and efforts while continuing to be huge fans.”

On the other hand, Chief Operating Officer of CPL, Pete Russell, said: “The issues that the Tridents have faced in recent months have been well documented, and are being fully addressed as a priority. We have been working tirelessly to find a solution, and we believe that this international-local investor collaboration is the ideal solution. This is a group of passionate cricket fans and astute business minds who have experience of successfully running a CPL franchise. The Tridents are in safe hands, and the issues the franchise has faced are a thing of the past.”

Jason Holder

The arrival of an experienced and successful ownership team means that the Tridents will now enter the 2019 tournament on a solid financial footing and with a clear plan both on and off the field. Local investors in the Tridents are focused on renewing the connection between the franchise and the local community, through partnerships with the Barbadian business community and a lineup of fan-centric events and content.

In addition to the team’s new ownership, Barbadian native Jason Holder has been announced as the team’s marquee player. While Holder had West Indies duties during some of the CPL seasons in the past, the bowling all-rounder has been with the team since its inception in 2013.

Holder joins three other marquee players, namely: Nicholas Pooran (Guyana Amazon Warriors), Chris Gayle (Jamaica Tallawahs), Kieron Pollard (Trinbago Knight Riders), leaving two more marque players for the St. Lucia Stars and St. Kitts and Nevis Patriots yet to be announced. The CPL draft will be hosted on Wednesday, May 22, and this year’s biggest party in sport will enter its seventh season on September 4.

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