Mallya is facing charges for alleged bank fraud and money laundering, and will be replaced by a new owner before the players draft scheduled for May 22 in London.
Mallya's legal troubles has also meant the Tridents players have not yet been paid in full for the 2018 season.
“That’s obviously been a big headache for us but that issue in relation to Barbados will be getting resolved in the next two to three weeks,” CPL chief executive Damien O’Donohoe said on Wednesday (May 1).
"We will also have a change of ownership which we hope to announce in two weeks’ time and that’s a very experienced owner who is going to come in, and it’s something that we’re obviously excited about and we’re looking forward to a fresh start at the end of this month.”
Mallya took over as owner of the Tridents in 2016, the same year he fled India for the UK.
The Tridents players had remuneration issues in the 2017 season too, and were paid in full only before the 2018 season.
CPL chief operating officer, Pete Russell, thanked players for their professionalism and stressed the issues would be solved promptly in future.
“We just want to put on record how grateful we are to the patience of the players. They’ve been very understanding,” he said.
"For us it’s just the worst possible scenario where you’ve got to assess circumstances where an owner for whatever reason can’t pay players is just not acceptable really. It’s been a process we’ve had to go through and we’re at the end of the process and it’s all positive going forward.
"And this is again working with Cricket West Indies (CWI) to make sure that in the future players’ salaries are ring-fenced prior to the tournament so we know that money is sitting there, so the players are protected because we will not experience this again, under any circumstances.”
The 2019 CPL will run from September 4 to October 12.
First Published: May 2, 2019, 12:36 AM IST