The government of Antigua and Barbuda and the West Indies Cricket Board, (WICB), are jointly buying the Stanford Cricket Ground and sticky wicket restaurant.

The properties belonged to the Stanford development company, which was one of the businesses owned by jailed Texan financier, Allen Stanford.

The properties are being sold for 7.5 million U.S. dollars. The cost will be split between the government and the WICB.

Antiguan Prime Minister Gaston Browne says the WICB will contribute 4.5 million dollars of the cost – giving them a 60 percent share. The government will contribute the remaining U.S. three million dollars – owning the remaining 40 percent.

Browne who was speaking in parliament yesterday said that he remains optimistic about the purchase and says its commercial value is about twice the price they are paying for it.