Cricket Australia has opened the Big Bash to private investment, although individual state associations will retain the power to decide if and when to sell stakes in their franchises.
The governing body had originally been interested in a league-wide franchise sale for the Big Bash League (BBL) and Women’s Big Bash League (WBBL), but New South Wales and Queensland opposed those proposals.
Instead, Cricket Australia will adopt a “self-determination model” for the process, allowing individual states to have the final say.
The decision to sell stakes in the Big Bash franchises follows the England and Wales Cricket Board’s (ECB) decision to sell stakes in all eight The Hundred teams last year, which generated more than £500m.
The eight franchises were collectively valued at more than £975m.
BBC Sport understands Cricket Australia officials met with some of the franchise owners in The Hundred this summer and several of them have expressed interest in investing in the Big Bash.
Cricket Australia said the decision was a “historic step” for the country’s T20 tournament, and bids are now being invited to buy 100% of the Melbourne Renegades’ license.
The goal is for the Renegades to play in the 2027-28 Big Bash under a new owner.
“Pending the outcome of that process, Cricket Australia will consider bringing other clubs to market under a self-determination model that gives each member state the ability to assess the optimal path for their own club and community,” the governing body said in a statement.
“The decision to proceed with this self-determination model was made in the best interest of all aspects of Australian cricket.”
The Renegades will be operated by Cricket Australia on an interim basis for the upcoming season, and their sale will not affect the BBL or WBBL 2026-27.
Hobart Hurricanes, Melbourne Stars and Perth Scorchers are said to be interested in attracting private investment, but the two Sydney-based teams (Sixers and Thunder), along with Brisbane Heat and Adelaide Strikers, are reluctant to commit.
The self-determination model means those states can choose to explore private investment in the future.
Cricket Australia plans to maintain control over international scheduling, player availability, salary caps and media rights.
You will also have the power to approve or veto potential investors and set a reserve price for the sale of the Forsaken.
Cricket Australia president Mike Baird said the governing body and state associations were “united in our commitment to investing in and growing the BBL and WBBL” and “promoting the interests of cricket at all levels”.
“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,” he said.
Baird added that the investment can “accelerate growth” to ensure Cricket Australia can “continue to invest in community cricket and grassroots participation, across domestic and international pathways and at the elite level”.
Cricket Australia also said it was continuing “constructive discussions” with the Australian Cricketers’ Association over an ongoing pay dispute.
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