LONDON: England & Wales Cricket Board faces the threat of legal action to return US$3.5 million it received from the ill-fated deal with disgraced financier Sir Allen Stanford.
According to The Telegraph, receivers acting for creditors of Stanford`s collapsed $7 billion financial empire have begun legal action against a number of sports bodies.
They include IMG Worldwide, who represent golfer Vijay Singh & Miami Heat basketball team, to recoup sponsorship fees.
They said they will be looking into ECB`s relationship with Texan and it could face action to repay "ill-gotten gains" received from its deal.
Stanford is currently in custody awaiting trial in the United States charged with running an alleged $7 billion "Ponzi" scheme based on sale of certificates of deposit in his Antiguan-based Stanford International Bank. He denies the charges.
ECB`s ill-fated decision to strike a $100 million deal for a series of Twenty20 matches against a Stanford Superstars XI is one of the most embarrassing and controversial episodes in its history.
The prospect of legal action will confirm the worst fears of its critics.
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