Cricket Australia has decided to introduce private investment into the Big Bash League, commencing with the sale of the Melbourne Renegades.

This announcement was made by the Cricket Australia (CA) board on Tuesday, marking the initiation of private investment within the franchise T20 league through the sale of the Renegades.

Cricket Australia anticipates that the Renegades will operate under new ownership by the 2027/28 Big Bash season.

Following the outcome of the Renegades’ sale, CA indicated in a statement on Tuesday that it would “explore the possibility of marketing other clubs under a self-determination model, allowing each State member to evaluate the best path forward for their respective club and community.”