Cricket West Indies (CWI) has been able to nab a sponsor for the Regional Super50 Tournament, as well as the One-Day International (ODI) series between Windies and England.
Last night at the Sandals Resort in Barbados the announcement was made by officials of the sponsoring firm Colonial Group International Ltd and CWI. The Group will sponsor the current Windies versus England ODI tournament which will bowl off tomorrow at the "Mecca" of regional cricket Kensington Oval in Barbados.
The board through frugal negotiations have also gotten Colonial Group International to sponsor its regional Super50 tournament which has been without a sponsor for the last three years. Nagico was the last sponsor of the tournament but its assistance ended after the 2015 season. The Insurance company came on board in 2012 and since 2015, CWI has been bearing the cost of the tournament.
Prior to Nagico coming on board, the tournament was previously known as the KFC Cup until the fast food chain pulled out of sponsorship in 2008 and the WICB Cup until 2011.
Colonial Group International, through its subsidiaries, provides insurance services. The company’s subsidiaries include Colonial Medical Insurance Company Ltd, Colonial Pension Services Ltd, Colonial Insurance Co. Ltd, Colonial Life Assurance Co. Ltd, Colonial Insurance BVI Co. Ltd, Atlantic Medical Insurance Co. Ltd, Security & General Insurance Co. Ltd, and British Caymanian Insurance Co. Ltd. It offers administrative, claims handling, reinsurance, and underwriting services. The company is based in Hamilton, Bermuda. Colonial Group International Ltd operates as a subsidiary of Edmund Gibbons Limited.
The Windies win over England in the Wisden Test series 2-1 has sparked renewed interest in the sport in the region and not only among fans but the corporate sector as well. This new interest is expected to help the board recover from what was a difficult financial year last year.
In 2018, the CWI lost a lot of money because it had to host Sri Lanka and Bangladesh, two countries which is difficult to generate revenue from, by hosting them.
Recently, chief executive officer of CWI Jonny Graves said that with England and India touring this year, there is expected to be a windfall for the Windies in terms of finances, as both countries have a great following and television rights fee is very good.