Texan billionaire talks dollars and sense

ST JOHN'S, Antigua, July 8 (Reuters) Caribbean cricket lovers are increasingly asking why Texas billionaire Allen Stanford is spending millions to develop the game in the region.

The question was first posed last year when he launched a 30 million dollars project, including the funding of 19 island teams and the Stanford Twenty20 tournament offering a 1 million dollars first prize.

It came up again on Wednesday when the 57-year-old Stanford gave another 100 million dollars to Caribbean cricket, with most of it going towards grassroots development over the next three years.

Cricket followers have always suggested most Americans are clueless about the game but Stanford, a striking six-footer with broad shoulders, lets his actions do the talking.

''I have been here for 25 years,'' the Antigua citizen told reporters. ''We've done things in the Caribbean in financial services that you would have expected...only in London, New York or one of the other financial centres of the world.'' He tells the tale of how his grandfather started the family empire in Houston 75 years ago but does not disclose much about his personal life.

Cricket is the main topic and most Caribbean people are keen to find out why a man with more than 50 international businesses would pump so much into their struggling game.

''This will not be just cricket,'' said Stanford, who owns a commercial bank in Antigua. ''This will be a life-changing experience for people on our side of the world.

CRICKET FAN ''I'm just as much a cricket fan as most West Indians.

Cricket is entertainment and it's all about business. I'm determined to see this business (become) a success but along the way we all win.

''I have no ulterior motive, I have no other game plan. What you see is what you get,'' he added.

Stanford, however, said there was no bottomless pit of money.

''There has to be some economic viability to this, there has to be some economic purpose,'' he said.

''As much as I love cricket, love the Caribbean and love being with the legends and am pained to the core of my soul about the shape of our cricket, there will come a limit in terms of my funding at this level.

''The business purpose is to create something here called entertainment.'' Stanford, who used to run a commercial airline, was awarded a knighthood last year in Antigua's independence day honours.

He has established the Sticky Wicket restaurant, the West Indies Cricket Hall of Fame and a venue in his name that hosts the Stanford Twenty20.

The American selected 14 greats of West Indian cricket to serve on his board of directors and they advise him on which projects could best aid the development of the game.

Among them is Gordon Greenidge, the former West Indies opening batsman.

''For years we have asked for funding to help with the game and none was forthcoming, now we have a man who is willing to play an integral part and I'm delighted to help with his project,'' said Greenidge.

Former test fast bowler Wes Hall agreed.

''He (Stanford) has come along when we most need help,'' said Hall. ''He didn't have to do it but thank God he did.'' REUTERS SBA RAI0738