BRIDGETOWN, Barbados, CMC – Former Trinidad and Tobago Cricket Board chief executive, Suruj Ragoonath, has questioned the real economic benefits of hosting the Caribbean Premier League, and believes the decision by St Kitts to stage this year’s tournament was a “risky investment” especially with the future of international travel still clouded by the ongoing COVID-19 pandemic.
Ragoonath, who played two Tests for West Indies in 1999, contended the revenue generated from staging the popular Twenty20 franchise tournament did not justify what regional governments were asked to invest.
Last year, Trinidad and Tobago were sole hosts of the tournament but Ragoonath said the biggest impact for the country was creating a much needed “distraction” at the height of the pandemic across the region.
“The government of Trinidad and Tobago has invested heavily over the years in CPL and mind you, I don’t think it has benefited us economically as has been postulated by all those different reports that have been generated,” said Ragoonath, who stepped down as CEO of Trinidad’s cricket governing body in 2018 after three years in the post.
“From my experience being CEO of the Trinidad and Tobago Cricket Board [and] being involved in CPL, it would be interesting to know exactly what was the outlay or what was the financial output from St Kitts … compared to what they’re going to get back.”
He continued: “What I can say, however, is that there would be some stimulation in the economy and one of the things that really impacted positively in Trinidad and Tobago last year when we hosted the CPL, [was that] it was an excellent distraction for the people.
“I think it was worth it in that regard. Whilst economically it may not have generated the type of revenue we would have wanted, the fact is we needed something at that point in time.
“We were going through a very difficult period in the country and across the region [and] it was an excellent distraction, but I don’t know if it is worth the kind of monies that governments have to put out to host.”
In announcing St Kitts as the host nation for the 2021 edition of the tournament, CPL organisers said last year’s tournament had been carried to a “record audience of over 500 million”, resulting in US$51.5 million in sponsorship value for the twin-island state.
And even though the tournament was played behind closed doors because of COVID-19, CPL said tourist boards across the region had benefited from US$258 million in media exposure.
However, Ragoonath said while he was sure St Kitts would leverage the investment to their benefit, he argued that the ongoing global pandemic meant returns would be decreased.
“I know that our government would have spent something like five million dollars hosting for one year, and then in addition to that, there would have been other waivers that would have had to be given to host the tournament,” the 53-year-old Trinidadian told Starcom Radio’s Mason and Guest cricket show.
“The thing is, hosting in a pandemic, travel is not allowed and that itself is going to reduce the measure of return that one would get on an investment like this.
“I don’t want to be negative towards the St Kitts government. I think they know what they’re doing, they are experienced and I’m sure they would be using it in some way to try and promote the country.
“Yes it’s a risky investment because we don’t know when travel will be allowed again and the fact that they have handled the COVID situation exceptionally well is a positive.
“But one has to weigh that as against economic opportunities but that is for the government of St Kitts and Nevis to decide.”
The CPL is set to bowl off August 28.
