Cricket Australia is facing its most crucial 48 hours in recent history to combat plans of Indian investors trying to seize a share of our Twenty20 game in the biggest shake-up since Kerry Packer's World Series Cricket.
Reports reveal Australia's most powerful cricket states, New South Wales and Victoria, have already sold shares to giant Indian corporations for around $60 million in return for profits from an IPL-type eight-team tournament to start in Australia in January 2012.
CA board members will meet in Melbourne over the coming days to decide whether to accept private equity from Indian and other overseas investors as part of the ownership structure for each franchise, which could be worth $80 million each in a few seasons, four times their initial value of $20 million each.
Chief executive James Sutherland has described the setting up of the tournament as "the most significant development since World Series Cricket"
Twenty20 Revolution
1.Australia's version of IPL will have eight teams Two Sydney,
2.two Melbourne, one Brisbane,one Perth, one Adelaide, one Hobart
3.Teams play each other twice before finals series
4.Tournament will be played over five weeks and will replace one-day games
5.Matches to be televised on Fox Sports and Nine and sold to India and other overseas networks
6.Starts January 2012 at all major city cricket grounds and possibly major regional areas
7.Gaps will be left in Australia's Test calendar to ensure all superstars will be available
8.Huge money will be offered by franchise owners to attract overseas stars
9.Sponsors will be offered naming rights of teams
10.Franchises will initially operate under a salary cap of between $2 million and $2.6 million
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