Cricket Australia welcomes huge investments by private investors in IPL-style 'Big Bash' League
Officials in Cricket Australia have welcomed the in-pour of dollars by private investors as well as Indian billionaires in what would be an IPL-style league called the ‘Big Bash League’ starting in 2012. Australian Cricket Chief
James Sutherland compared it to the Kerry Packer founded World Series Cricket, and believes it will bring a huge impact to the game in http://www.senore.com/Cricket/Australia-c746 and in general. World Series Cricket was a benchmark in cricket in regards to breaking the traditional norms in
cricket. It certainly brought a new style to modern cricket and was appreciated the world over. The basic feature of that series was the introduction of http://www.senore.com/Cricket/A-White-c41360 ball in cricket; it was initially criticized, but was later widely accepted as a new trend in cricket.
Cricket Australia is a bit cautious in its approach but is still determined in bringing as much cash and success as the Indian Premier League (IPL) has managed. The IPL, which was introduced back in 2008, has become a source of
big revenue for its owners and investors. The hype and success of the IPL can be judged from the fact that its brand value is around $4.13 billion dollars and it is the second highest paid league second to the NBA. The estimated salary of an IPL player is
around 2.5 million pounds.
It includes a number of well-known teams with major players from different cricket playing nations. IPL has not only been able to draw big bucks but has also resulted in increasing the marketing value of cricket, as it has made
cricket more commercial. It has become an ideal place for investment.
The CEO of C.A. was also of the view that the door for a private investor was opened five years ago through the IPL while other countries simply send in their players and support their revenue. However, he did mention that Cricket
Australia has suffered as revenues have reduced to a level as fewer tourists are coming in to watch the matches. The need of the hour is the injection of more capital into the system so that younger generations could be drawn to cricket.
Cricket Australia members will decide whether they will be accepting private equity from Indian and Private Investors as part of their ownership structure for each franchise. There are reports that NSW and http://www.senore.com/Cricket/Victoria-c859 will have Indian
part-owners as they have already sold shares to Indian corporations for around $60 million dollars in return for profits from the IPL type eight-team Twenty20 tournament starting in January 2012. Many other notable investors are said to be interested in buying
stakes in the Australian side for the Big Bash League. It would be a hugely profitable approach by Cricket Australia as Twenty20 cricket has a lot of commercial value and along with other important series happening in Australia, crowds would gather in larger
numbers for such events.
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