KKR CEO Venky Mysore has shared the interest of Indian investors in the Big Bash League and has laid down a wide array of conditions, hence posing several challenges for Cricket Australia amid the privatisation push.
Indian investors see BBL as highly attractive, given Australia’s cricket prestige and venues like the Melbourne Cricket Ground and the Sydney Cricket Ground. Even Pat Cummins has supported the private investment if it is done right.
KKR have clearly depicted their Expansion plans
The Kolkata Knight Riders group, which is led by the Knight Riders CEO Venky Mysore, has speculated about their next move in franchise cricket. After IPL, the Indian franchise owners are now eyeing their entry into one of the world’s most well-known Global T20 leagues, the Big Bash League.
The Knight Riders are among the potential investors that Cricket Australia is considering for the partial ownership of the BBL teams. KKR are expected to rebrand a team as the Melbourne Knight Riders or Sydney Knight Riders. They will be using the group’s widely popular purple-gold branding.
Cricket Australia wants to sell around 49% stakes of the BBL teams, and the trophy-winning teams are expected to draw the maximum amount of interest from the bidders. The aim of this privatisation, after 45 years in Australian cricket history, is to boost the BBL’s profile and prevent decline amidst competition from global leagues.
The demands laid by Investors before making the BBL investment
The investors who have shown interest in investing in the Big Bash League clubs have presented some terms for the Cricket Australia board. The first and most crucial among them is the appeal for an exclusive January BBL window.
Another important demand is the availability of full players, both international and local Australian players. The investors have also pleaded for the right to rename and rebrand teams for global recognition, especially in India.
“Sustained interest in the league will depend on the availability of all local and foreign players. The two key components are a dedicated window, without any clashes with other leagues, and full availability of local players,” said the KKR CEO, as quoted by the Sydney Morning Herald.
Future Outlook and the challenges posed in front of Cricket Australia
The global trend of private investments in sports leagues around the world has led to billionaire-owned franchises. Cricket two is witnessing such privatisation, first in the SA20 and then in the leagues in England and the UAE.
The private investments would lead to an increase in the BBL salary cap, keeping players from leaving. This would prevent them from hurting their standards further with competition from IPL, ILT20, SA20, and the other global leagues.
Cricket Australia will have to balance between Boxing Day Test matches and New Year Tests with the BBL, as the investors have demanded a completely isolated window for the T20 tournament. Other IPL groups, like the Mumbai Indians and even the US-based tech moguls, have shown similar interest.