CSA to discuss over the future of Boland franchise in T20 Global League

Brimstone pulls out of T20 Global League

CSA T20 Global League
(Photo Source: Cricket South Africa)

Cricket South Africa (CSA) would be a briefing on the future of intended Stellenbosch franchise, also known as the franchise for the Boland Region, in the upcoming T20 Global League, after one of the two franchise investors pulled out from its participation from the tournament due to commence in three months. The detailing process is scheduled later today.

An investment firm, Brimstone, initially committed to invest one of the eight teams featuring in the T20 Global League, in a glitzy London launch function. Brimstone was earmarked as one of the franchises for the teams featuring in the competition. However, soon they issued a statement confirming that they quietly pulled out of their initial commitment.

One of the top notch reporting sites tried to contact the firm regarding their participation in the mega tournament. It was only then a senior official forwarded a statement which was issued overnight.“Brimstone today announced that it will not be proceeding with the proposed acquisition of a T20 Global League franchise. The consortium led by Brimstone was announced as the successful bidder of the Stellenbosch/Paarl franchise by Cricket South Africa,” read the official statement according to Sport24.

Brimstone pulls out of T20 Global League

“Following the announcement in June this year, Brimstone continued its own internal process in regards to the proposed acquisition of the franchise. As a result of this process, the company has decided not to proceed with this venture,” further briefed the statement.

“We follow a rigorous investment process. This venture had to undergo the same process and be tested against our standard investment criteria as all other investment proposals. Our investment decisions take cognisance of the risks and benefits to all our stakeholders. We wish CSA well with the T20 Global League and will continue to support the development of, and access to, the sport in various other ways,” commented the co-founder and chief executive of Brimstone, Mustaq Brey.