–as NEW GPC rethinks investing in state-of-the-art sports facility

The following is a statement issued yesterday by the New GPC, which no doubt took the wind out of the sails of the sporting community, with the announcement that it was no longer interested in investing in the proposed world-class stadium, with all the trimmings, and citing among other deterrents ‘misrepresentation’ and the question of ‘confidentiality’.The principals of the Limacol Brand, sponsors of the Limacol T-20 Caribbean Premier League (LCPL) and owners of the Guyana Amazon Warriors, would like to clear up some misconceptions created by a story in the Kaieteur News of November 30, concerning a proposal made by Limacol to the Boards of the Georgetown Cricket Club (GCC) and the Georgetown Football Club (GFC).

1) It was the members of the Board of GCC, who initiated the discussions with representatives of the Limacol brand to have a number of LCPL games scheduled at Bourda.
2) During subsequent discussions, it was pointed out that as far back as the scheduling of the International Cricket Council (ICC) T-20 World Cup cricket tournament of 2007, the facilities at Bourda could not satisfy the criteria for international cricket at the highest level. It was conceded that subsequently, the facilities had continued to decline in an exponential fashion.
3) The principals of the Limacol brand reiterated their concern over the impact of this decline on the city of Georgetown in general and on its cricket and football heritage in particular, from economic, social and sport development standpoints.
4) The Limacol brand then submitted a proposal that addressed these issues:
a) The world class stadium, with all its amenities, would have returned international cricket and football to Georgetown along with an economic resurgence;
b) The financial structure of the endeavour would have ensured that GCC and GFC share in the profits generated which would have enabled these clubs to return to their glory years.
c) The principals of Limacol are particularly proud of their proposed cricket and football academy. The youths of Georgetown, as with any city in the world, need positive outlets for their energy. The academy could have been one of the institutions that would have provided the support and guidance to the many who are talented in the sports. The overall countrywide development of cricket and football would also have been facilitated.
5) The question of financing for the proposed stadium has been raised. The Limacol brand is proud that it put its money where its mouth was on the idea of professional T-20 Cricket in the Caribbean. There were many who doubted the venture would be successful. We demonstrated that the private sector could deliver a world class tournament second to none.
Based on this demonstrated success, the financial community and CPL OPCO Guyana Inc have indicated that they stand ready to back the Limacol proposal.
6) In the light of the misrepresentation of the proposal, the principals of Limacol have decided that they will not proceed further with its offer on the Bourda project. In the world of business, into which cricket had ventured in the present millennium, the issue of confidentiality is crucial and it is evident that this requirement will pose a problem for any joint venture between the Limacol brand and the GCC and GFC.
7) Finally, the principals of the Limacol brand would caution those that would continually deride those from the business community that seek to develop their companies and in so doing benefit the country. The Limacol Bourda Stadium and Sports Academy is an opportunity lost to all Georgetown, Guyana and to the country’s youths who are inclined toward sports.