Global T20 League investors to be reimbursed by Cricket South Africa
The Global T20 League seemingly did not take off in South Africa.
Updated - Jun 4, 2018 1:27 pm
Cricket South Africa’s Global T20 League, a franchise-based cricketing model based on the brainchild of the Indian Premier League, never took off due to the failure of CSA’s inability to sell the broadcast rights. CSA president Chris Nenzani is currently under the cosh due to the expenses that need to be paid with complete interests.
However, in spite of this, Nenzani stated that he is interested in paying all the investors back their money once the agreements have been completed. Shah Rukh Khan, the owner of the Kolkata Knight Riders was also one of the investors in the league and is currently awaiting a reimbursement on his investment.
The League was 95% good to go
Further reports suggest that the league was 95% good to go and was expected to generate large sums of revenue for CSA in particular. Several countries such as Bangladesh and Pakistan and even the West Indies have their own domestic T20 Leagues. South Africa initially had the ‘Ram Slam’, something that, however, never attracted the best of players from all around the world.
“As soon as we come to an agreement … we will pay them. All we’re asking for are our deposits back and expenses made on behalf of our teams,” said the owner, who claimed his costs were between $400 000 and $500 000. “Moroe had agreed five months ago that the CSA would pay, but people on the board seem to be going back on whatever promises he made.”
“The problem is I don’t know who you’re talking to. There’s no issue with the deposit and interest; the issue is reasonable expenses and, once we agree on that, we’ll pay them back as soon as our internal processes have taken place. This is not our money, we have no desire not to pay it back,” Nenzani said.