IPL team owners and other Indian investors have shown early interest in acquiring Big Bash League (BBL) franchises after Cricket Australia (CA) opened select teams to private investment. However, prospective buyers are reportedly wary of the commercial restrictions attached to the ownership model.

Raine Group, a US-based merchant bank, is managing the privatisation process after overseeing the equity sales for The Hundred in England. Cricket Australia chief executive Todd Greenberg has called it a billion-dollar opportunity to bring private investment into Australian cricket over the next decade.

IPL Owners See Red Flags in Cricket Australia’s BBL Model

According to Cricbuzz, the Melbourne Renegades are the only BBL franchise currently available for a 100 percent acquisition. Cricket Australia is overseeing the sale instead of Cricket Victoria, with the deal expected to be completed by Christmas.

However, the new owner will have to build the team’s brand and fan base from scratch. The Hobart Hurricanes and Perth Scorchers are expected to be next, but private investors will reportedly be limited to 49 percent stakes. IPL owners usually prefer controlling stakes in overseas leagues.

The model is different from other leagues where Indian investors have entered. IPL groups have full ownership of teams in the SA20, ILT20, CPL, and Major League Cricket, while some investors in The Hundred also hold controlling stakes or significant operational control.

Cricket Australia Wants to Retain Control Over Big Bash Operations

Cricket Australia chairman Mike Baird has made it clear that the governing body will retain control over key areas of Australian cricket. Speaking about the investment model, Baird said:

“CA and its members will maintain control over the most significant aspects of Australian Cricket operations, including international scheduling, player availability, the Big Bash Leagues salary caps, branding proposals as well as the reserve price for a licence to operate that must be achieved, and approval of investors.”

According to Cricbuzz, Cricket New South Wales also opposes private investment in the Big Bash League. The disagreement has added to the challenges around the proposed ownership model, while IPL investors continue to assess the commercial terms.

GMR, co-owner of Delhi Capitals, had previously explored a partnership with Cricket NSW. The group held talks in Sydney during the fifth Test of the 2024-25 Border-Gavaskar Trophy. GMR also owns Hampshire County Cricket Club in England.

Player Availability and Travel Add to IPL Owners’ Concerns

The availability of Australian stars is a major concern for potential investors. The Big Bash League usually runs alongside Australia’s international season, unlike the IPL, where franchises have greater certainty over the availability of leading Indian players.

Pat Cummins has played only seven BBL matches since 2016, while he has played 76 IPL games. The BCCI also ensures the availability of contracted and marquee players for the IPL, giving franchises greater commercial certainty.

Overseas player availability is another concern. The BBL competes with leagues in South Africa, the UAE and Bangladesh, while Australia’s higher taxes could make those tournaments more attractive to international players.

Travel could also increase costs for BBL franchises. A trip to Perth can take around five to six hours by air, while teams in the SA20 generally face much shorter journeys between cities.

Potential investors are also looking at Cricket Australia’s media rights deal and the influence of the Australian Cricketers Association. CA is currently three years into a seven-year broadcast agreement. Most BBL teams are reportedly profitable, which could attract investors.

An IPL source told Cricbuzz: “The ECB was difficult; CA is five times tougher to negotiate with.”