Breaking: Cricket Australia agrees to attract private investment in Big Bash

Cricket Australia has agreed to attract private investment into the Big Bash League, starting with the sale of the Melbourne Renegades.

The board of directors of Cricket Australia (CA) made a statement on Tuesday that the sale process of Renegades will be the first venture to attract private investment in a T20 league franchise.

CA is hopeful that the Renegades will play under new ownership in the 2027/28 Big Bash season.

Depending on the success of the Renegades sale, CA said in a statement on Tuesday it would “consider bringing other clubs to market under a self-determination model that gives each member of staff the opportunity to evaluate the best path for their own club and community.”

CA chairman Mike Baird said the decision was a significant moment for cricket in Australia.

“The start of the Renegades sales process allows us to take the first step in our members’ model of self-determination and represents a defining moment for the game,” he said.

“It is important that CA and its members will retain control over the most important aspects of Australian cricket, including the international schedule, player availability, Big Bash league salary caps, branding proposals, as well as the reserve license price to be achieved and investor approval.”

The decision to attract private investment into the Big Bash leagues has been under discussion for several months.

CA chief executive Todd Greenberg said in May that private investment was “inevitable” and privatization came into focus when Cricket Victoria planned to sell the Renegades in June.

Baird said inviting private investment would allow cricket to grow at all levels of the game.

“Cricket Australia and its member states are united in our commitment to invest in and grow the BBL and WBBL and promote the interests of cricket at all levels,” 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, accelerating growth and ensuring we can continue to invest in community and grassroots cricket, domestic and international pathways and the elite level.

“This is an important decision that required an enormous amount of analysis, discussion and collaboration over many months. “I would like to thank everyone involved as we move towards what we believe is the best way to secure the future of cricket in this country, strengthen the Big Bash and protect our position on the world stage.”