Cricket Australia has taken its first step towards a significant shake-up of the Big Bash League, recently seeking external feedback on the structure of the competition.
One of the suggestions to improve the competition was private investment, with CA now seriously considering whether selling minority stakes in BBL franchises would improve the league.
Under the current model, CA owns all eight BBL franchises and leases them to the states, which operate the teams on its behalf. While that structure has ensured central control, it has also limited the league's ability to accelerate its growth.
If the private ownership model were to proceed, CA would likely sell 49 per cent of individual franchises to private investors, while still retaining ownership of the competition. The BBL would remain a CA-run league, but private ownership could unlock important revenue to accelerate the growth of the competition.
Increased funding would likely mean improved player payments, giving the BBL greater capacity to offer more competitive contracts to attract overseas stars.
The BBL has increasingly struggled to secure elite international players on consistent deals due to scheduling clashes and the financial strength of rival leagues. Private ownership could make the competition a more attractive destination for top-tier overseas players, helping the BBL compete in an increasingly crowded global T20 space.
State bodies could use the funds generated by selling stakes in their BBL teams to support grassroots cricket, junior development pathways and women's programs.
However, privatisation could present some considerable obstacles for the game in Australia.
A major concern is that private owners may push for changes that suit their commercial interests rather than the long-term health of Australian cricket.
There is a risk that Test cricket is pushed aside as private owners seek to maximise crowds, broadcast numbers and financial returns.
Investors would likely want a dedicated window to ensure all Test players are available for the BBL, and would push for marquee matches to be played during prime time. This would present obvious issues for the traditional Boxing Day and New Year's Test matches.
There are also concerns around franchise rebranding. Private ownership could open the door to rebranding, name changes or affiliations with overseas teams, potentially weakening the connection supporters have built with existing BBL clubs.
A similar private ownership model is already being used in England, where the England and Wales Cricket Board have begun selling 49 per cent stakes in The Hundred franchises to private investors. That process has attracted major global sports and private equity groups, delivering a significant financial benefit while allowing the ECB to retain control of the competition.
However, the privatisation of The Hundred has not been without controversy. It has already led to franchise rebranding, with the Oval Invincibles set to become MI London following investment from the owners of the Mumbai Indians, raising concerns about removing fan connection.
