The move to privatise the BBL has been under discussion for many days, and the decision to do so has been taken.
Hyderabad:Cricket Australia (CA) unveiled a landmark move on Tuesday, allowing private investment in the domestic T20 franchise competition, the Big Bash League (BBL), officially. The board also announced the sale of a 100 per cent stake in the Renegades, with new ownership in place for the 2027-28 WBBL and BBL seasons. The move is a first step towards heading in the process of inviting more and more bids from private investors for the sale of franchises.
Cricket Australia decided to take the first step towards privatisation after there has been a massive increase in the league’s popularity. The decision was announced by CA in the presence of star players like Pat Cummins, Sophie Molineux, Travis Head and Ellyse Perry at the Sydney Cricket Ground.
Cricket Australia has received bids from private investors for a full stake in the Melbourne Renegades. The board expects new leadership to arrive from the 2027-28 BBL and WBBL seasons. The whole bidding process will not have any impact in the upcoming season as CA will run the franchise in caretaker mode.
Once the stakes of the Renegades are sold,
Once the stakes of the Renegades are sold, CA will then focus on other clubs under a ‘self-determination’ model. The self-determination model means that every team will decide if and when to sell stakes in their respective franchise.
The cricket.com.au reports that the participating teams are currently divided on the decision about privatisation. Hobart Hurricanes, Melbourne Stars and Perth Scorchers are keen on bringing private investment, but Sydney Sixers, Thunder, Brisbane Heat and Adelaide Strikers are reluctant to do so.
Privatisation considering long-term future
Cricket Australia would still have the right to approve or veto potential investors and also determine the reserve price that must be met. Also, changes to club names, colours and branding would need to be approved by CA.
Cricket Australia chair Mike Baird said
Cricket Australia chair Mike Baird said that the decision was taken considering the long-term future of the sport.
“By opening the door to private investment in the Big Bash Leagues, Cricket Australia is taking a deliberate step to strengthen and secure the long-term future of the game, accelerate growth and ensuring we can keep investing in community cricket and grassroots participation, domestic and international pathways and the elite level,” Baird said, as quoted in the statement.
Source: www.etvbharat.com
