overseas investors

Australian cricket: The Big Bash à la IPL raises more than a few questions

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The Big Bash League

If the BCCI is not quite open to having private equity from foreign investors in the IPL,that is not quite the case with the Australian version (The Big Bash League) of the IPL scheduled to begin in the 2011-12 Australian summer season.

New South Wales and Victoria have allegedly already sold shares in their state associations to two giant Indian corporations.

Brisbane-based Adani Group and Jay Mehta, co-owner of Kolkata Knight Riders, have been named as Indian corporates with possible interest in the Big Bash league.

Gautam Adani recently bid unsuccessfully for an IPL team.

In breaking news, Cricket Australia (CA) has approved minority private ownership paving the way for Indian investors.

The Australian Cricketer’s Association had backed the entry of private overseas investment saying that it will not only bring in much need investment into the sport but also raise the profile of the sport Down Under.

Each Big Bash franchise is valued initially at $20 million each which is expected to rise to $80 million over the next few seasons.

The Australian cricket calendar is being punctured to accommodate the new entity; tests will be foregone for the period of the tournament to ensure the availability of top Australian cricketers for the duration of the tournament.

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