Owners of IPL franchises MI, CSK, SRH, DC, RR, and LSG buy all six teams in South Africa's new T20 league
The open bid process, managed by Deloitte Corporate Finance, attracted over 29 entities who expressed interest in owning a franchise worldwide. Over 10 venues were made available for interested bidders to own a franchise and all 10 of them received expressions of interest.
All six teams in South Africa's upcoming new T20 league were bought by owners of Indian Premier League (IPL) franchises. Reliance Industries Limited, owners of Mumbai Indians bought Newlands, Cape Town. Kingsmead, Durban was bought by RPSG Sports Private Limited, the owners of Lucknow Super Giants. Sunrisers Hyderabad owners Sun TV Network put in a successful bid for St George’s Park, Gqeberha (formerly Port Elizabeth). Wanderers, Johannesburg went to Chennai Super Kings Cricket Limited. The Rajasthan Royals owners bought Boland Park, Paarl. The SuperSport Park team was bought by the JSW Sports, owners of Delhi Capitals.
The open bid process, managed by Deloitte Corporate Finance, attracted over 29 entities who expressed interest in owning a franchise worldwide. Over 10 venues were made available for interested bidders to own a franchise and all 10 of them received expressions of interest.
Commenting on the selection process, the Commissioner for the new league, Graeme Smith said: “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.
“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.”
The league is set to begin next year. “We have already contracted a number of leading international players who will be announced shortly. Combined with our strong South African player base, fans and stakeholders can be assured that the new League will showcase exciting talent and skill,” Smith concluded.