The West Indies Cricket Board (WICB) intends to increase the number of players that have on retainer contracts and have sourced the funds for this project. They are expected to use the funds gained from selling the T20 license for the Caribbean Premier League to Venus Merchant Bank. The Barbadian Bank will be the major shareholder of the Caribbean Premier League and the WICB stands to gain financially from this project.
Currently they have 32 players on retainers and this is expected to be increased when they receive funds from the Caribbean Premier League. The board intends to use the money and plough it into the development of the game locally.
The Caribbean Premier League will consist of six teams and they are expected to be based in six of the major Caribbean territories. Venus Merchant Bank is expected to sell the franchises as they will be the official owners of the league.
The Caribbean Premier League will replace the regional T20 cricket series, which will be played for the last time from January 6 at the Queen's Park Oval.
Manager of the national team Omar Khan said that while it is a bit sad that the national team will not be able to play together, it is something that could benefit a number of cricketers. "While it will be a bit sad that you would not have that national identity in this most popular form the game, one has to look at the bigger picture and realise that with this league coming on a lot more players would be given the chance to earn some money."
Khan's sentiments were echoed by executive member of the T&T Cricket Board (TTCB), Patrick Rampersad. The Merryboys Cricket Club president said: "We are happy to have the Premier League come on stream but it is with a bit of sadness that I view the end of the Trinidad T20 set-up. We have made a world wide name for ourselves in this format and it was a unique opportunity to market this country to the world.
"Even at this last event we can sell T&T to the world because ESPN will be here to beam it across the world. "Having said that, we have to understand that the game of cricket has evolved and now we have to move with the times. Cricket is now big business and the T20 is the financial driver and we look forward to the financial benefits from this new set-up."