PORT-OF-SPAIN, Trinidad, CMC- Lycamobile, Europe’s largest Mobile Virtual Network Operator (MVNO), has given up its ownership of Trinidad and Tobago Red Steele franchise, four months before the start of the second edition of the Caribbean Premier League (CPL).
CPL says it has reached a mutual agreement with Lycamobile for the global cell phone carrier to relinquish ownership of the franchise with immediate effect.
Officials making the announcement say the joint decision has been taken ahead of the next round of franchise sales.
“Our goal is to create long-term meaningful partnerships with franchise owners that benefit cricket in the region,” said Damien O’Donohoe, CEO of Caribbean Premier League.
“We part on good terms and we are both keen to establish other ways in which we can work together in the future to help develop the CPL brand globally.”
Lycamobile, which boasts a market share of 30 million customers across 17 countries, purchased Red Steele franchise just days before the start of the inaugural Limacol Caribbean Premier League (LCPL) T20 Tournament last year.
CPL says it is in advanced discussions to secure a new owner for The Red Steel, who have already attracted significant interest from a number of potential owners.
The franchise rights for the remaining teams—Antigua Hawksbills, Barbados Tridents, Jamaica Tallawahs and St Lucia Zouks—will go up for sale shortly.
