India’s big bucks IPL owners acquire SA’s new T20 teams

Corporate India will be well represented in South Africa’s new T20 league that gets going in January next year.

The six franchises have been bought by six businesses in India, who all also own Indian Premier League teams.

Reliance Industries, owners of the Mumbai Indians, RPSG Sports Private Limited, owners of Lucknow Super Giants, Sun TV Network Limited, owners of Sunrisers Hyderabad, Chennai Super Kings Limited, owners of Chennai Super Kings, Royals Sports Group, owners of Rajasthan Royals and JSW Sports, co-owners of Delhi Capitals have acquired the teams based in Cape Town, Durban, Gqeberha, Joburg, Paarl and Pretoria respectively.

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According to a statement released by Africa Cricket Development (Pty) Ltd on Wednesday the new owners were confirmed following a “rigorous process” over the past few months.

“The open bid process, managed by Deloitte Corporate Finance, attracted over 29 entities who expressed interest in owning a franchise worldwide,” the statement said.

“Over 10 venues were made available for interested bidders to own a franchise and all 10 of them received expressions of interest.”

All six bidders have been involved in T20- franchise cricket in India, and operations in other sports.

“We are thrilled to welcome our new franchise owners to the South African League taking place in January and February 2023. This is truly an exciting time for South African cricket; the overwhelming interest shows that the country remains valued in the global cricketing eco-system,” said league commissioner Graeme Smith.

“A robust bidding process was followed to select the final six owners, the decision was informed by a scorecard based on various criteria to ensure the utmost professionalism, independence, and objectivity to the process. I would like to thank Deloitte as our advisors for doing a thoroughly professional job in helping South African cricket find partners who add substantial value to our game.

“The strong sports background of the respective owners and the global brands they manage ensures that South African cricket and the broader industry will benefit from their expertise and resources, as they bring stability and experience to the League.”

Next up for the new league is to secure international players, following the recent news that South Africa’s best player will be available for the league after Cricket South Africa’s decision to withdraw the men’s Proteas team from an ODI series in Australia in January.