IPL franchises show interest in buying team in South Africa's new T20 league
New Delhi, May 5 (IANS) Four IPL franchises - Delhi Capitals, Chennai Super Kings, Mumbai Indians and Rajasthan Royals -- and a consortium led by former England captain Kevin Pietersen have shown interest in buying teams in South Africa's new T20 league.
The tournament, scheduled for January next year, is set to include six privately owned teams, who will play each other home and away over a group stage of 30 matches before the playoffs.
Notably, this is the third attempt by Cricket South Africa (CSA) to launch a T20 competition after the failed Global League T20 (GLT20) in 2017 and the now-defunct Mzansi Super League (MSL), which was played in 2018 and 2019.
As per the document shared at a special meeting of CSA's Members' Council, the board is aiming to create the "second best T20 league in the world" after the IPL.
The document acknowledges that only the IPL has enjoyed "runaway success" and that there is a "clear gap" between India's cash-rich T20 league and the others, which in a way leaves CSA with no choice but to focus on being second-best in the T20 tournament stakes, an ESPNcricinfo report said on Thursday.
Interestingly, the league will also have the involvement of one person who knows how to create league success better than most: Sundar Raman, the former chief operating officer (COO) of the IPL. Sundar has acquired a minority share of 12.5 per cent of the yet-to-be-named tournament, with CSA maintaining the majority share (57.5 per cent) and broadcaster SuperSport owning the remaining 30 per cent.
According to CSA's estimate, the yet-to-be-named tournament will cost 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.
The document also claims the league will be "an economically viable project for CSA from day 1", which makes it different to the other two attempts.
The GLT20, which was abandoned for reasons including the absence of a broadcast partner, cost over R300 million (USD 19.1 million) and the two MSL events, which were screened on the public broadcaster, the SABC, for a negligible fee of R25 million (USD 1.6 million), cost over R200 million (USD 12.7 million).