CSA invites bids for T20 league; IPL franchises show interest
Cricket South Africa (CSA) has invited bids from international parties for the creation of a world-class T20 league in the country. The six-team tournament is slated to be held next year in January-February. The bids have seen active interests from major Indian Premier League (IPL) franchises namely, Chennai Super Kings (CSK), Mumbai Indians (MI), Rajasthan Royals (RR), and Delhi Capitals (DC). Here's more.
Why does this story matter?
CSA's vision to host a premium T20 tournament is still intact after two failed attempts. As per Cricbuzz, the teams will be announced later this month. The initial deadline for the bids was set for July 11 but has been extended until Wednesday owing to the participants' request. International audit firm, Deloitte & Touche, have been roped in for the assessment of the bids.
CSA hoarded with bidding requests
So far, CSA has received a total of 29 Expressions of Interest (EoI) regarding the ownership of a team.While IPL franchises have looked dominant in their pursuit, there have been bids from a few team owners from Pakistan Super League (PSL) as well.
CVC Capitals are in the fray as well
As per Cricbuzz, US-based private equity firm, CVC Capitals, which owns IPL franchise Gujarat Titans has shown a great deal of interest to claim a stake. Besides, Kevin Pietersen-led consortium is in contention too. As per CSA officials, there isn't any base price for the teams. However, the allocations will be done on the "financial evaluation" of the bids.
Here's what a CSA document reads
The IPL is arguably the greatest T20 tournament in the cricketing fraternity. As per a league document, CSA aims to build the second-best T20 league in the world. "There is a clear gap between the best (IPL) and the 2nd best league. CSA should therefore focus on the opportunity to create the 2nd best T20 league in the World," stated the document.
CSA's league set to clash with ECB's International League T20
It isn't official yet, but CSA intends to kickstart the tourney with six franchises. Two of those will be reserved for the local South African investors. As far as scheduling is concerned, the league might take place in January-February. However, that would result in a clash with Emirates Cricket Board's International League (IL) T20, which will host its maiden edition in the same window.
CSA aims to take the IPL route in future
CSA aims to have the six teams competing in both home and away matches. The tourney will comprise a total of 34 matches (30 league fixtures and four playoffs). Each team will have a fixed salary cap of $1.5 million. Notably, 100 local players and 40-plus overseas players would be allowed to participate. Interestingly, there can be five foreign players in playing XI.
