Cricket Australia courts private money for BBL as IPL groups watch from sidelines

Cricket Australia’s decision to permit private investment in Big Bash League franchises has drawn interest from Indian Premier League owners and other Indian investors, though serious commitment remains uncertain.

CA confirmed to Cricbuzz that expressions of interest have been received from IPL owners as well as other Indian investors. The usual suspects in the IPL ecosystem are believed to be among those considering the opportunity, though approached by Cricbuzz, none of them has confirmed interest.

CA has engaged the Raine Group to oversee the project. The US-based merchant bank presided over the blockbuster sale of The Hundred franchises in England last year, which helps explain why CEO Todd Greenberg has described BBL privatisation as a "billion-dollar opportunity" for the sport in Australia.

Control, ownership caps and a blank-slate Renegades

At this juncture, only the Melbourne Renegades are available for 100 per cent acquisition, with the process being overseen by CA rather than Cricket Victoria. The sale is expected to be completed by Christmas, but prospective owners would have to build a brand-new team without inheriting an existing fan base.

Hobart Hurricanes and Perth Scorchers are reportedly next in line for sale. WACA is yet to call a meeting of its general body to take a view on divestment, while Cricket NSW is opposed to private investment and may not even nominate CA chairman Mike Baird for the chairmanship next time around.

The vexing issue for IPL groups is the ownership structure. Future sales will be limited to 49 per cent. Normally IPL franchises look for control which CA does not want to cede. Chairman Mike Baird stated:

"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."

In SA20, ILT20, CPL and even Major League Cricket, IPL teams have full ownership of their franchises. The Hundred is slightly different. The Sun Group-owned Sunrisers Hyderabad has a 100 per cent stake in Sunrisers Leeds, while LSG owner Sanjiv Goenka’s RPSG Group has acquired a 70 per cent stake in Manchester Super Giants. MI’s Reliance and DC’s GMR own 49 per cent each of MI London and Southern Brave but exercise operational control. GMR, incidentally, also owns Hampshire County.

The co-owners of Delhi Capitals had explored the possibility of investing in Sydney and Cricket New South Wales, a development Cricbuzz first reported in January 2025. During the fifth and final Border-Gavaskar Trophy Test, GMR representatives were in Sydney for discussions on a potential collaboration with Cricket NSW.

Stars, scheduling and commercial friction

IPL teams are also scrutinising media rights valuation, availability of Australian stars, international players, logistics and union issues. Unlike the England and Wales Cricket Board, which kept The Hundred window free of international cricket, CA is not giving the same assurances. Normally the BBL and international cricket are held concurrently in Australia.

That is not viewed as ideal by IPL teams as there are no guarantees of Australian star participation in the BBL. Pat Cummins, for instance, has featured in only seven BBL games since 2016. In the same period, he has played 76 IPL matches.

Contrast that with the situation in India, where the Board of Control for Cricket in India ensures the availability of all contracted and marquee players for the IPL. MS Dhoni (149), Virat Kohli (160), Rohit Sharma (153) and Jasprit Bumrah (141) have rarely missed an IPL game in this period.

There is also no clarity on availability of international players, something IPL owners want. Taxation in Australia is apparently considerably higher than in countries like South Africa, UAE and Bangladesh, whose leagues clash with the BBL. International players may therefore prefer those leagues.

Travel is another major issue. A team travelling to Perth could face a five-to six-hour journey. In South Africa, where IPL teams own all six franchises, the maximum travel time between host cities is just over two hours. It is not as much in England, UAE and in the Caribbean.

The other major factor is the media rights situation. CA is currently in the middle of a seven-year deal, of which only three years have elapsed. IPL teams are also looking closely at the influence of the Australian Cricketers Association in Australian cricket.

The upside is feedback that most BBL teams are apparently making profits, which may explain the lack of consensus within CA about private money. IPL owners, who have a presence in almost all major franchise leagues around the world barring the Pakistan Super League and the BBL, are sure to weigh this positive factor as well.

But an IPL insider summed up the negotiating climate:

"The ECB was difficult; CA is five times tougher to negotiate with."

CA may have to offer more than it is currently willing to, to turn the BBL privatisation project into a billion-dollar opportunity.