MI, CSK Owners are interested in buying teams in CSA’s New T20 League

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MI, CSK Owners are interested in buying teams in CSA’s New T20 League

CSA is all set to launch a new franchise-based T20 tournament commencing from January 2023. And just a few days after the announcement of the CSA’s new T20 league, four IPL franchises, Delhi Capitals, Chennai Super Kings, Mumbai Indians, and Rajasthan Royals & a consortium led by Kevin Pietersen have expressed their interest in purchasing franchises in CSA’s to-be-launched T20 league. The competition which will begin next year will include six privately-owned teams who will play each other home and away over a group stage of 30 matches before the playoffs.

This is CSA’s third attempt to launch a T20-based tournament after failing two times earlier after launching Global League T20 (GLT20) in 2017 and the now-defunct Mzansi Super League (MSL), which was played in 2018 and 2019. Recently in a special document shared in a special meeting of CSA’s Council, CSA revealed that it is aiming to create the “second best T20 league in the world” after the IPL.

The document admits that the only IPL has enjoyed “runaway success” and that there is a “clear gap” between India’s T20 league & the others in World Cricket which leaves CSA with no choice but to focus on being second-best in the T20 tournament stakes.

In an attempt to launch the World’s secodn best T20 league, CSA has brought on board Sundar Raman, the former chief operating officer (COO) of the IPL by handing him a 12.5% share of the new T20 tournament. However, CSA & SuperSport still owns a majority of shares in the tournament with CSA acquiring 57.5%) and broadcaster SuperSport owning the remaining 30%.

The document further claims that the league will be “an economically viable project for CSA from day 1”, which makes it different from the other two attempts. CSA estimates that the league will cost it USD 56 million over 10 years, and will make revenues of USD 30 million in the same period. But added to that is also a commitment from SuperSport to pay USD 89 million, which will allow CSA and the franchises to make a profit – to be split 50-50 – in the first decade.

Looking at the success of the IPL over the years & how it has changed the face & economics of the BCCI, CSA has decided to re-enter the T20 market despite two failed attempts earlier. CSA aims that by 2033, the tournament would revive the economics of cricket in South Africa & plans that by the 11th year of the tournament each franchise will pay CSA 20% of their revenues.

South Africa will further receive a boost as it is slated to host three ICC events in the next five years. It will not only develop South Africa’s face as a major tournament host but will also bring in much-needed revenue. They are all set to stage the Women’s Under-19 T20 World Cup in January 2023, followed by the Women’s T20 World Cup in February, and co-host the Men’s ODI World Cup in 2027, along with Namibia and Zimbabwe.

 

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