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Cricket Australia (CA) is studying the possibility of allowing private investment to the Big Bash League (BBL), following the example of an English cricket, which recently reached $ 2 billion through sales of team holdings in the hundreds. An independent review recommended that CA explore minority ownership sale.
The transfer of Cricket Australia to sell BBL team stakes aims to increase its financial reserves, directing to more than $ 100 million. State associations also face financial challenges, with states like New South Wales, Victoria and Queensland that do not gain direct revenue from the house.
Meanwhile, the Sydney Cricket Ground (SCG) has been identified as main needs updates to improve the experience of spectators and welcome future launches.
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Cricket Australia considers a major BBL review after the recommendation
According to Sydney Morning Herald, Cricket Australia is studying a significant change in his business model that could remodel the Big Bash League landscape, following a recommendation by the Boston consulting group.
If the Council chooses to sell minority stakes in BBL teams to private investors, it would mark the most transformer change in the Australian cricket from the Kerry Packer World Series in 1977.
The main leagues T20, such as the IPL, the SA20 of South -Africa and the ILT20 of the United Arab Emirates, are already owned by corporate entities and have attracted the interest of world technology companies and private capital. In contrast, Cricket Australia has retained the total property of BBL teams and has previously resisted private investment.
Cricket Australia resisted private property due to BBL season crash
Cricket Australia has avoided the private property of BBL teams due to planning conflicts. The BBL takes place during the home test season. However, private investors would probably promote a separate window that allows Australian test players to participate fully.
A rehabilitation of the summer cricket calendar could alter emission agreements. A recent review of Boston Consulting Group, presented to the President of CA, Mike Baird and the state chairs through video conferencing, recommended selling minority stakes in BBL teams.
The movement could help the league raise money to offer more competitive salaries, which makes it a more attractive destination for the international talent that currently favors the most paid leagues.
Thunder and renegades to Singapore or New Zealand in discussion
The report claims that Cricket Australia is asking to delay the extension of the Big Bash League until the private investment is ensured by selling participations to their existing teams. Although CA officials continue to consider the proposal, discussions have also arisen on a potential review of the league structure.
Among the ideas considered to be the relocation of current franchises, the renegades of Sydney Thunder and Melbourne, to new markets such as Singapore or New Zealand. Canberra also expressed interest, strongly endorsed by the President of the Cricket Law, Greg Boorer.
The motivation for these changes is to revitalize the BBL, which has lost prominence in Lucrative T20 leagues in South -Africa and the United Arab Emirates. One of the alternative approaches discussed is expanding by issuing new club licenses instead of selling stocks in existing teams.
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