ST JOHN’S, Antigua (CMC) — The first-ever Caribbean Premier League (CPL) Twenty20 tournament will be held from July 29 to August 26 this year, the WICB has announced.

The CPL is expected to comprise of up to six privately owned Caribbean city based teams and will replace the existing Caribbean T20.

WICB announced last month that it had granted a licence to the merchant bank Verus International to host and manage the CPL.

“After a successful run of the Caribbean Twenty20, we hand the baton over to Verus International as they take charge and establish the CPL,” WICB chief executive Michael Muirhead said.

“The WICB is excited about the prospects that the CPL will bring for the players, the fans, sponsors and the economies of the Caribbean. We look forward to an explosion of cricket and all the attendant benefits for all stakeholders.”

West Indies do not have any international engagements during that period, which will allow for the participations of all regional players.

WICB says the league will provide financial benefits for participating players with the majority being West Indian.

As part of the arrangement, WICB will receive annual funding to allow for new retainer contracts for regional players outside of the 20 Central Annual Retainer Contracts currently offered.

“The WICB is excited about the prospects that the CPL will bring for the players, the fans, sponsors and the economies of the Caribbean,” said Muirhead.

“We look forward to an explosion of cricket and all the attendant benefits for all stakeholders”.

Matches in the CPL will be televised throughout the Caribbean and across the globe.