Cricket South Africa bag USD 150 million from franchise auction for new T20 league

Cricket South Africa (CSA) has reportedly received a sum of more than USD 150 million from the franchise sale for its new T20 league. Interestingly, owners of the Indian Premier League (IPL) franchises have won the bidding for all six participating teams in the upcoming league. CSA has grabbed this big sum for 10 years and owners have to pay the fee annually.

Six teams were divided into two groups, three top-tiers and the remaining three as others. It has been reported that the three top-tier teams, Johannesburg, Cape Town, and Durban have fetched CSA approximately USD 10 million and the other three teams around USD five million. CSA has guaranteed almost USD one million annually from the media rights. Team owners will be looking for more revenues from the sponsorship deals and match-day ticket sales.

According to a report from Cricbuzz, the owner of a franchise from the former South African T20 league, known as the Global League T20, has sent a legal notice to CSA regarding selling licenses to form any T20 League. They believe that they, as former owners, have a first right to refuse any new T20 venture by CSA and are ready to take the matter to the court. But CSA previously confirmed that they had followed all the regulations and are legally clear to sell a franchise license to form a new T20 league.

We grow MI’s global cricketing footprint: Nita Ambani is delighted to expand MI’s brand to South Africa

IPL giants Mumbai Indians‘ owner Reliance Industries bought the Cape Town franchise to expand their fanbase in  South Africa. Chennai Super Kings and Lucknow Super Giants also managed to win the bids for top-tier teams. Sunrisers Hyderabad, Rajasthan Royals, and Delhi Capitals bought the remaining teams to expand their brand of cricket in South Africa. Mumbai Indians owner Nita Ambani said that they are excited to take Mumbai Indians’ brand of entertaining cricket to South Africa.

“I’m delighted to welcome our new T20 team to the Reliance family! We are excited to take the Mumbai Indians’ brand of fearless and entertaining cricket to South Africa, a nation that loves cricket as much as we do in India! South Africa has a strong sporting ecosystem, and we look forward to exploring the power and potential of this collaboration. As we grow MI’s global cricketing footprint, we remain committed to spreading joy and cheer through sport,” said Nita Ambani.