Cash-rich Indian consortia ready to buy stakes in Oz domestic T20 teams
October 29th, 2010 - 1:08 pm ICT by ANISydney, Oct. 29 (ANI): Cash rich Indian consortia have reportedly indicated a keen interest to invest in domestic Twenty20 teams in Australia, even as the Australian Cricketers’ Association has come out in support of private ownership of these franchises.
According to the Sydney Morning Herald, the ACA has said that it has no objection to the principle of private ownership.
Cricket Australia’s board will meet on Friday to decide whether to allow private ownership of T20 franchises in a new competition next summer.
Eight Australian outfits will contest the series with six teams in capital cities and a further two licenses to be granted.
Indian entrepreneurs want to buy minority stakes in the franchises, which some reports suggest could be valued at 80 million dollars.
ACA president Paul Marsh said the players’ association believed private ownership should be embraced.
“But we’re not privy to the financial details,” he said.
He added: “The value and benefits that private ownership would bring to Australian cricket, do they outweigh the financial opportunity cost that cricket may be giving up by bringing in part owners, and the control that cricket may be giving up by bringing in part owners?,” he said.
Marsh said the association had already started negotiating with Cricket Australia about terms and conditions for the revamped T20 competition. (ANI)
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