Cricket Australia has formally opened the door to private investment in the Big Bash League, with the Melbourne Renegades set to become the first franchise offered for sale and expected to play under new ownership from the 2027-28 season.

Historic sale process begins at SCG

The decision, which follows months of deliberations between Cricket Australia and the country's state cricket associations, was confirmed at a press conference at the SCG on Tuesday afternoon. The governing body said the Renegades would be the first BBL franchise to enter the private ownership process, with other BBL and Big Bash Women's League teams potentially offered for sale down the line under a so-called "self-determination" model.

The move is designed to channel private investment into the T20 competition and shore up the financial position of Australian cricket, at a time when players and franchises are being increasingly lured toward lucrative leagues around the world.

"CA will invite bids from private owners for the Renegades with a view to them playing the 2027-28 season under new ownership," the governing body said in a statement on Tuesday.

"A defining moment for the game"

Cricket Australia chair Mike Baird framed the decision as a landmark shift for the sport's domestic landscape.

"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," Baird said. "This is a significant decision that has involved an enormous amount of analysis, discussion and collaboration over many months."

Baird indicated other franchises could be taken to market at a later date. "Pending the result of that process, CA will 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," he said. According to reports, the Hobart Hurricanes, Perth Scorchers and Melbourne Stars are among the clubs believed to be interested in private investment.

Why now

The Renegades, winners of the BBL title in the 2018-19 season and owned by Cricket Victoria, which supported CA's original plan, are the first club to be taken to market. The decision arrives as CA looks to strengthen its finances: despite a boost in revenue from hosting a five-Test series against India in cricket's biggest financial market, the board recorded a net deficit of A$11.3 million for the 2024-25 financial year.

"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," Baird added.

What CA will keep hold of

While private owners will be allowed in, Cricket Australia will preserve control over the seams of the competition. Baird confirmed the governing body will retain control over international scheduling, player availability, salary caps and media rights. CA will also retain the power to approve or veto potential investors and to set a reserve price for any sale.

Any changes to a club's name, colours or branding will likewise require approval. For the Melbourne Renegades, CA itself will act as the approving authority, while the relevant state body will play that role for the other teams.

The historic announcement comes alongside other firsts for the league: Prime Minister Anthony Albanese revealed in July that December's BBL 2026-27 season opener between the Renegades and Perth Scorchers will be staged in Chennai, marking the competition's continued push onto international soil.