Four significant requirements yet to be resolved as States agree to in-principle support of ‘self-determination’ investment model
Cricket Australia’s push to introduce private investment in the Big Bash Leagues has taken a step forward with the six state associations today providing in-principle support for a “self-determination” model.
But that model, which would allow each state to make its own decision if and when to sell stakes in their Big Bash clubs, is caveated on four significant hurdles being overcome.
CA and the six state chairs, or their representatives, met in Melbourne today to discuss the revised private investment model after NSW and Queensland rejected a previous proposal in April that involved selling stakes in all eight clubs.
The four conditions needed to be resolved to proceed to the next stage under the self-determination model are:
The structure of governance for the new Big Bash Leagues to be agreed;
Change to the current CA governance structure to take into account the new operating model;
Agreement to be reached on the mechanics of a self-determination model with the players’ union, the Australian Cricketer’s Association
Agreement between CA and each of the states on future funding and distribution agreements.
Once those key issues are resolved, the next stage would then involve testing the market and securing valuations.
It is then expected that Cricket Victoria would be the first state to go to market.
CV stunned their state counterparts earlier this month when they revealed plans to rebrand the Melbourne Stars and sell the licence for the Renegades franchise entirely, should a model to bring private equity into the Big Bash proceed.
“The states have agreed to go back to their boards to discuss these proposals and address any questions that might arise from their members on four key topics involving governance of the (Big Bash leagues) and CA, player support and state distributions,” CA chair Mike Baird said in a statement.
“We’re confident this will lead to the best possible outcome for everyone including grassroots participants and volunteers and professional players and provide certainty for the future of cricket in Australia.”
South Australian Cricket Association chair Will Rayner said today’s talks were “constructive … about the best way to move forward on behalf of everyone involved in Australian Cricket”.
“While there is a lot to work through, we have made good progress and will now discuss the mechanics of a self-determination model, contingent on several conditions being met, with our respective boards,” he added.
“It was a productive session that positions us to continue to grow the (Big Bash) leagues, while ensuring the appropriate checks and balances are in place to ensure the long-term sustainability and sovereignty of our game.”
CV had moved at pace in its planning for private investment ahead of today’s meeting, and had already applied to IP Australia to trademark three potential names for their rebranded ‘Melbourne’ team: Rangers, Magic and Blazers.
The rebranded team, which would have a new playing kit and play their men’s home games at the MCG, would be the only Big Bash entity operated out of their Junction Oval base, with 100 per cent of the licence currently known as the Renegades to be sold to a private investor.
Both licences will continue to be based in Melbourne for the WBBL and BBL, with the second licence will continue to operate as the Renegades until a sale is finalised.
