Fancy buying the Melbourne Renegades? BBL privatisation is now underway

[p]An earlier CA privatisation proposal, which would have allowed the ‌sale of 49% of BBL franchises and 100% of a team from those states which have ‌two, was scuppered in April by the cricket boards of New South ‌Wales and Queensland.[/p][p]"[b]CA will invite bids from private owners for the Renegades with a ‌view to them playing the 2027-28 season under new ownership,[/b]" the governing ‌body said in a statement on Tuesday.[/p][p]"[b]Pending the result of that process, CA will consider taking other clubs to market under a self-determination model that gives each state member ‌the ability to assess the optimal pathway for its ⁠own club and community.[/b]"[/p][p]The Renegades, BBL ‌champions in the 2018-19 season, are owned by Cricket [a href="https://www.flashscore.ca/team/victoria/Gd0wlfZ1/"]Victoria[/a], which backed CA's original ​plan.[/p][p]CA had hoped to raise up to AU$600 million from its initial privatisation plan to safeguard the future of the sport, ​boost its finances and improve its competitiveness in the booming T20 market.[/p][p]Despite a revenue boost from hosting a lucrative five-test series against cricket's financial powerhouse ⁠India, CA reported a net ​deficit of AU$11.3 million for the 2024-25 financial year.[/p][embed guid="9119876f-8e74-417c-81a7-336203231e49" url="https://x.com/mufaddal_vohra/status/2096977027379483093" social-type="twitter" /][p]"[b]By opening the door to private investment in the Big Bash Leagues, Cricket [a href="https://www.flashscore.ca/team/western-australia/Wfe1Y1xt/"]Australia[/a] is taking a deliberate step to strengthen and secure the long-term future of the game,[/b]" CA Chairman ‌Mike Baird said in Tuesday's statement.[/p][p]"[b]Importantly, CA and its members will maintain control over the most significant aspects of Australian Cricket operations.[/b]"[/p][p]Influential figures in Australian cricket have voiced opposition to opening the league to private money, saying it could mean a damaging loss of local control.[/p][p]Some of the concerns stemmed from the growing global footprint of Indian Premier League (IPL) franchise owners, who now control or hold stakes in T20 teams in England, South Africa, the United Arab Emirates and the West Indies.[/p][embed guid="1a08f62a-6b72-4b59-86ac-d00587dcb2e7" url="https://x.com/tommorris32/status/2096775018101567654" social-type="twitter" /][p]CA Chief Executive Todd Greenberg said in ‌May that he thought those fears were overblown.[/p][p]"[b]India are such a huge ​part of cricket, but we're not looking to sell the game to ‌India. That's it, full stop,[/b]" he told SEN radio.[/p][p]"[b]We are looking to add value to our clubs and bring good partners in, and the decision on who those partners are is at the behest of the states.[/b]"[/p][p]Australia Prime Minister Anthony Albanese announced in July that December's BBL ⁠season opener between the Renegades and ⁠Perth Scorchers would take place ‌in the Indian city of Chennai.[/p]