Cricket Australia has agreed to bring private investment into the Big Bash League, starting with the sale of the Melbourne Renegades.
The Cricket Australia (CA) board made the announcement on Tuesday, with the sale process of the Renegades to be the first venture into bringing private investment into the franchise T20 league.
CA is hoping the Renegades will play under new ownership for the 2027/28 Big Bash season.
Depending on the success of the Renegades sale, CA said in a statement on Tuesday that it would “consider taking other clubs to market under a self-determination model that gives each State member the ability to assess the optimal pathway for its own club and community”.
CA chair Mike Baird said the decision was a major moment for cricket in Australia.
“Beginning the sales process for the Renegades allows us to take the first step in a self-determination model for our members and represents a defining moment for the game,” he said.
“Importantly, CA and its members will maintain control over the most significant aspects of Australian Cricket operations, including international scheduling, player availability, the Big Bash Leagues’ salary caps, branding proposals as well as the reserve price for a licence to operate that must be achieved, and approval of investors.”
The move to bring private investment into the Big Bash Leagues has been debated for months.
CA chief executive Todd Greenberg said in May that private investment was “inevitable”, and privatisation was thrust into the spotlight when Cricket Victoria made plans to sell the Renegades in June.
Baird said inviting private investment would allow cricket to grow at every level of the game.
“Cricket Australia and its state members are united in our commitment to investing in and growing the BBL and WBBL, and to advancing the interests of cricket at every level,” he said.
“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.
“This is a significant decision that has involved an enormous amount of analysis, discussion and collaboration over many months. I’d like to thank all involved as we move to what we believe is the best way to secure cricket’s future in this country, strengthen the Big Bash and protect our standing on the global stage.”
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