The West Indies Cricket Board (WICB) and the board of directors for Stanford 20/20 are on the verge of signing a five-year deal. It will confirm the future of the tournament and make it part of the WICB's annual calendar alongside the current first-class and one-day competitions.
The deal will also bring continued support from the Stanford organisation towards developing cricket in the Caribbean countries who take part in the event, the first of which was held in 2005-06 to general acclaim.
The announcement came following a meeting between the WICB and Stanford board representatives in Antigua, attended by the new WICB President, Julian Hunte. The Stanford 20/20 representation comprised 10 of the 14 former cricketers who support the competition and Kenneth Allen, QC. Allen Stanford was unable to attend the meeting due to a family commitment.
"What was achieved today was a small step but a very important one," said Hunte. "We all recognise that to achieve our goals, which will all result in the betterment of West Indies cricket, we need to work together and continue to have constant and open dialogue."
Desmond Haynes, one of the former players connected with Stanford, said: "We have been very impressed by this meeting with Dr. Hunte. He has shown us that he truly has West Indies cricket as his primary interest and we are all very heartened by his immediate desire to work together with us as a team."
The next tournament is due to take place in February and March next year, while Stanford also has plans to take the game to a more international level.