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CPL 2019: Mallya to lose ownership of Barbados Tridents

CPL 2019: Mallya to lose ownership of Barbados Tridents
Credits: The Hindu Business Line

 

All is not well for former owner of Royal Challengers Bangalore, Vijay Mallya as the Indian millionaire is all set to lose the ownership of his team Barbados Tridents in Caribbean Premier League, the team he acquired in 2016 originally. Damien O’Donohoe, the league CEO has confirmed that Mallya is no longer the team owner and the announcement of new owners is expected before the player draft on May 22.

But why?? Let’s find out:

No payment to the players of Barbados Tridents

Mallya has been involved in a major money scam in UK where he is alleged to have committed bank fraud and is a major defaulter who is yet to pay millions in loans taken from various banks. Additionally, Vijay Mallya hasn’t even paid his players their dues for the 2018 season of CPL. This raised serious concerns amongst the CPL management and they finally decided to bring in new owners and clear prior payments.

O’Donohoe, the CEO of the league expressed his displeasure over the whole fiasco in a recent interview.

“That’s obviously been a big headache for us … (but) that issue in relation to Barbados will be getting resolved in the next two to three weeks,”.

Players of Trident, including Dwayne Smith have shown great anger and frustration over the delay of payment since a year. The management has now seriously addressed the issue and assured the players that they will be receiving the promised amounts at the earliest.

CPL’s chief expresses gratitude to the players

CPL’s chief operating officer, Pete Russell, expressed gratitude to all affected players for their patience. He said:

“We just want to put on record how grateful we are to the patience of the players. They’ve been very understanding,” He also reassured that matters between the players and management will finally be resolved. “It’s been a process we’ve had to go through and we’re at the end of the process and it’s all positive going forward.”

Caribbean Premier League is slated to start September, 4th and the board has given high hopes to all the players that issues would be resolved before the league officially begins. We hope the players get their due share in time!

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