Sydney, Oct 30: Australia's version of Indian Premier League-style Twenty20 franchises could be worth as much as 30 million dollars.
According to the Sydney Morning Herald, the franchises will be valued between 2.5 million to three million dollars a year for 10 years. Investors would be allowed to own up to 33 per cent of a franchise in the eight-team tournament owned, controlled and managed by Cricket Australia.
"Some of the valuations that we have done recently on these interests put these teams immediately in the upper echelons of Australian sport, in terms of values of sporting teams," CA chief James Sutherland said. "In an operational sense, we have done a huge amount of modeling going out 20 years and beyond that gives us a huge amount of confidence into how this competition is going to grow."
Sutherland further said that player allocation would be based on ensuring teams had an "equal opportunity to attract talent". The tournament will have eight teams playing each other twice before a finals series. NSW and Victoria will have two teams, and the other states one each.