The Champions League, which will be played between 8 teams, has a total prize money of 6 million dollars with the winner getting 3 million dollars. The final will be held at Mumbai, Modi further stated at a media gathering.
Earlier, the Champions League was supposed to be held in the month of September at Jaipur, Mohali and Delhi. However, with the change in dates it was decided to change the venues also as in north India in the winter there is a lot of dew in the evenings and the weather also gets quite cold. 'Therefore we have decided to change the venues', Modi said.
For the first edition, there will be eight teams participating with a total of 15 matches, which will go up to 12 teams and 23 matches for the second edition, Mr Modi informed, adding that the full schedule of the matches will be finalised soon and disclosed to the media.
Modi, to a query, said that the domestic Twenty20 championships of each country would act as feeder leagues for the Champions League and the most unique part of this league is that it would be able to move from one country to another as time goes by.
On the venue for the final in Mumbai, Modi said that they have decided on the city for the final, but the venue is still to be decided. It could either be the Barbourne Stadium of the Cricket Club of India or the D Y Patil stadium at Nerul in Navi Mumbai, where the IPL final was played.
Modi, who also unveiled the logo of the Champions Trophy along with Manu Sawhney, Managing Director ESPN, said ''In the Champions League Twenty20, I believe we have a concept that will inspire and motivate the future generations of club, state and county cricketers, while accelerating the development of the game globally.'' ''I am confident that this will be a true global event the scale of which the cricketing world has not seen outside of the World Cups,'' he added.
Eight teams, including the reigning winners and runners-up from the domestic Twenty20 competitions in India (Rajasthan Royals and Chennai Super Kings), Australia (Western Australia Warriors and Victoria Bushrangers) and South Africa (Titans and Dolphins), plus the reigning Twenty20 champions from Pakistan (the tournament is being held from October 4, 2008) and England Twenty20 Cup winners (Middlesex) will be the teams participating in the tourney.
The eight teams have been divided into two groups of four each and will initially play each other on a league basis. The top two teams will qualify for the semi-finals, with the Winners of Group A facing off against the Runners-Up of Group B and vice versa, in the last four stage.
The winners will then clash in the Grand Finale to be played in Mumbai on December 10, 2008.
The tournament will be contested by 12 teams in year two between September 25 and October 10, 2009.
Replying to a query on whether a player, signed on by two teams, which among them will he represent, Modi citing the example of Morne Morkel said that Morkel though had been signed on by the Rajasthan Royals, he did not play a single match. He, however played for the Titans in the South African league and therefore would have to represent Titans. ''We are very clear in the view that a player, who has helped a team win in his competition, would play for that team only. However, if the player has played for two teams, then the player would have to follow the contractual obligation which he has signed on and play for that team.'' Modi also said that to preserve the integrity of the league, the teams will have to play with the players with whom they have won their respective leagues and will not be allowed to sign on new players for the Champions League.