Cricket Australia has opened the Big Bash League (BBL) and Women's Big Bash League (WBBL) to private investment, allowing individual state associations to decide on selling stakes in their franchises. This "self-determination model" was adopted after proposals for a league-wide sale were opposed by New South Wales and Queensland.
The governing body is now inviting bids to purchase 100% of the licence for the Melbourne Renegades, with the aim for the team to play under new ownership in the 2027-28 Big Bash season. Cricket Australia will operate the Renegades in a caretaker capacity for the upcoming 2026-27 season.
Some owners of franchises in The Hundred, which saw the England and Wales Cricket Board (ECB) sell stakes in its teams last year for over £500m, have reportedly expressed interest in investing in the Big Bash. While Hobart Hurricanes, Melbourne Stars, and Perth Scorchers are reportedly keen on private investment, the two Sydney-based sides, Brisbane Heat, and Adelaide Strikers are reluctant.
Cricket Australia chair Mike Baird stated that opening the door to private investment is a "landmark step" to strengthen and secure the long-term future of the game, allowing for accelerated growth and continued investment in community cricket and elite levels. The governing body will retain control over international scheduling, player availability, salary caps, and media rights, and will also approve or veto potential investors and set a reserve price for the Renegades' sale.