MELBOURNE: Cricket Australia has approved plans to bring private investment into Big Bash League franchises, starting with the Melbourne Renegades.
Cricket Australia Chairman Mike Baird and Chief Executive Todd Greenberg announced the decision on Tuesday.
The board has formally agreed to let state cricket bodies sell stakes or full ownership of their BBL franchises to private investors.
The Melbourne Renegades will be the first franchise to enter the sale process. Cricket Australia will invite bids from potential investors.
The board hopes the Renegades will begin the 2027-28 season under new ownership, it said in a statement.
Cricket Australia will assess the results of the Renegades sale before deciding whether to put other BBL franchises on the market.
It will use a “self-determination model” for the process. Under the model, each state member can choose the ownership structure that best suits its club and community.
Cricket Australia said private investment will help fund community cricket, domestic and international pathways, elite cricket, the BBL and the Women’s Big Bash League.
The board also stressed that Test cricket will remain a priority.
Baird said private investment could strengthen Australian cricket’s financial base. It could also deepen fan engagement and unlock greater commercial opportunities.
He described the Renegades sale as the first step in the new model and an important moment for Australian cricket.
Cricket Australia to retain key controls
Despite opening the door to private ownership, Cricket Australia and its state members will retain control over key areas.
These include international scheduling, player availability, BBL salary caps, branding proposals, minimum club licence values and investor approvals.
However, the ownership plan comes as Cricket Australia and the Australian Cricketers’ Association (ACA) remain locked in a separate dispute over financial arrangements.
ACA Chief Executive Paul Marsh said the latest announcement did not remove the need to resolve outstanding issues before franchise sales can proceed.
Negotiations over a new memorandum of understanding between the two sides are continuing. However, Marsh said they remain far apart on several issues.
He also said Australian cricket could not complete a team sale without the players’ representative body approving the arrangement.
Players challenge revenue treatment
Under the current memorandum of understanding, the ACA receives 27.5% of Australian cricket’s total revenue.
The players’ body argues that money raised from selling stakes or ownership in BBL clubs should also count as revenue.
Cricket Australia takes a different view.
The board says players should receive 27.5% only from the interest or profits generated when the sale proceeds are reinvested.
During negotiations in February, the ACA offered to drop its claim to 27.5% of the sale proceeds.
In return, it sought a higher permanent share of cricket revenue. The proposed share reportedly rose to 33%.
Cricket Australia rejected the proposal.
Greenberg said he maintains a good relationship with Marsh but acknowledged that the two sides remain some distance apart in the negotiations.
The current memorandum runs until the end of 2028, giving both sides more time to reach a new agreement.
Greenberg said the main aim of the private investment plan was to put more money into players’ hands.
He expressed confidence that Cricket Australia and the ACA would eventually reach an agreement.
