International MVNO Lycamobile has bought the Trinidad and Tobago Red Steel cricket team, which represents Trinidad and Tobago in the Caribbean Premier League.
The investment will see the telecoms brand take ownership of the Caribbean Premier League team including proprietary rights over admission, sponsorship and advertising in the team home ground, Queen's Park Oval in Port of Spain, Trinidad during the tournament.
Trinidad and Tobago Red Steel is the latest addition to Lycamobile's portfolio of companies which are expected to generate a number of new revenue streams for the MVNO. The MVNO's other businesses include Lycamoney, Lycatel and Lycafly.
Lycamobile Group Chairman, Subaskaran Allirajah said: 'As Lycamobile's presence expands across the globe, so too does the customer base we serve and interests they share. Lycamobile has a strong heritage in cricket as the sport captivates and unites many of our communities.
'We are incredibly excited to join the Trinidad and Tobago Red Steel team from the very beginning of their journey and look forward to growing with them through the series of prosperous and victorious tournaments to come.'
Damien O'Donohoe, CEO of the Caribbean Premier League, said: 'We are absolutely thrilled that Lycamobile has joined the Limacol Caribbean Premier League franchise family. We think that the Trinidad and Tobago Red Steel franchise, indeed the League itself, is a good fit for Lycamobile because both parties embrace the values of hard work, tenacity in achieving its goals and delivering a quality product of the highest standard.
'We trust that this partnership will be the catalyst for Lycamobile to establish its brand in the region, and expand operations into a very profitable market.'
The Caribbean Premier League is an annual Twenty20 cricket tournament held in the Caribbean by the West Indies Cricket Board. It was created in 2013 and replaced the Caribbean Twenty20 as the premier Twenty20 competition in the Caribbean.
The creation of the new tournament also engendered six new teams of which Trinidad and Tobago Red Steel is one.
© Cricket World 2013