ECB To Review Due Diligence Tests
The England and Wales Cricket Board is to review the way it carries out its ‘due diligence’ on potential investors in the wake of the demise of its lucrative relationship with Texan billionaire Sir Allen Stanford.
The ECB was heavily criticised for its involvement with Stanford, who has been accused of a huge fraud by US authorities, with many critics asking how the governing body had not done a thorough background check of the billionaire’s finances prior to signing a deal.
ECB chairman Giles Clarke has said talks with the government would be held to improve the vetting procedure.
England took part in the Stanford Super Series in Antigua last autumn in the hope of each player winning $1m.
However the Stanford Superstars took home the prize money, the pitch, lighting and outfield were criticised, and Stanford himself caused consternation when he was photographed with wicketkeeper Matt Prior’s pregnant wife Emily on his lap.
