By Prior Beharry
REPUBLIC Bank Limited is now the title sponsor of the Caribbean Premier League (CPL).
The announcement was made by Chief Executive Officer of the CPL Pete Russell at the corporate box of RBL at the Queen’s Park Oval in Port of Spain on Wednesday. The sponsorship is for three years and RBL has been the official bank of the CPL for years.
The previous title sponsors was Hero MotoCorp Limited, a motorcycle manufacturing company of India.
Group President and Chief Executive Officer of the Republic Group Nigel Baptiste said, “We are excited to be the Title Sponsor and Official Bank of the Caribbean Premier League.
“Cricket is hugely important to Caribbean heritage, culture, community and youth development and as the Caribbean’s largest sporting event and one of its most significant sport entertainment exports, the CPL demonstrates to the world the Caribbean’s capability and prowess, illustrates our talent and future potential, and showcases our joyous and incomparable spirit.”
Russell said, “The CPL is a driver of economic growth and the creation of jobs, so having a financial group like Republic Bank as the title sponsor makes perfect sense. In addition, Republic Bank has a great track record of spreading the love of cricket across the region, something that is important to all of us at the CPL.”
The official ceremony was chaired by cricket commentator Alex Jordon and present were Trinidad and Tobago cricketers Ravi Rampaul and Jayden Seales, Trinbago Knight Riders manager Colin Border and President of the Queen’s Park Cricket Club (QPCC) Dr Nigel Camacho.
Asked by AZP News about the cost of the title sponsorship, Russell said it was like asking someone’s age and said the price tag was confidential.
CPL noted recently that it generated more that US$200 million for countries that hosted games in 2022 which was a 47% increase compared to 2019, the last time teams moved around.
It states that the direct economic impact on the region from Hero CPL 2022 was US$134,686,551 with an additional US$66,250,232 in sponsorship value as a result of the Hero CPL broadcast which was watched by more than 700 million viewers in 2022.
The four countries who held Hero CPL matches were St Kitts and Nevis, St Lucia, Trinidad and Tobago and Guyana. St Kitts and Nevis also hosted the first running of the Massy Women’s CPL (WCPL) and the SKYEXCH 6IXTY.
The Republic Bank CPL 2023 takes place from August 16 to September 24.
RBL has operations in 14 Caribbean countries including CPL franchise countries of Barbados, Guyana, Trinidad and Tobago, St Lucia and St Kitts and Nevis.
