New owner of Stellenbosch Monarchs to be named soon, says CSA Chief Executive

South Africa’s coveted venture into the realm of T20 tournaments in the form of the T20 Global League is all set to kick off in November 2017. However, there seems to be a tiny hiccup for one of the participating franchises, Stellenbosch Monarchs, as they’re yet to find an owner. Cricket South Africa (CSA) Chief Executive, Haroon Lorgat is confident of announcing the name of the new owner in near future.

Initially, Brimstone Investment Corporation Limited, a South African investment company was cited as the owners of the heavyweight franchise possessing the likes of Faf du Plessis in the squad and Stephen Fleming as the head coach. However, the company chose to withdraw from the engagement earlier this month. This has forced the CSA to set up the franchise for sale again and assigning an eligible owner to it before the touted championship is afoot.

Stellenbosch Monarchs needing a new owner is a “blessing”, says Lorgat

Lorgat is hardly breaking a sweat over the matter of the Stellenbosch Monarchs being without a new owner. Addressing the issue of Brimstone withdrawing as well as the growing concerns of being able to find an owner in time, the CE said, “You always have this challenge, where someone might have reason (to withdraw). We were ready for that. So, it wasn’t an issue for us. The amazing thing is that it’s going to be blessing. We have got a number of interested parties. Hopefully very, very soon, we can make the announcement, which will surprise and certainly showcase the attraction of this league.”

Elaborating on his stance, Lorgat added, “I have no doubt that it is going to bowl a few people over. We made the decision long before we went to the market for owners, should there be a need for CSA to ‘warehouse’ a team in lieu of an owner to come. There’s a lot around the commercial aspects where we want to make sure we get the best deals for everyone concerned, including a broadcaster,”

“So, we could go early and secure a deal and then say we shouldn’t have, because there is a lot more to be concerned about. Or alternatively you can do it as late as possible. In our view, it was better to do it after the owners were announced. And after the players were announced. There is now concrete evidence of what you are selling,” he concluded.