State Associations Oppose BBL Stake Sale Plan

Cricket Australia's ambitious plan to sell minority stakes in Big Bash League franchises to private investors has encountered significant resistance from key state associations, casting uncertainty over the future of the domestic T20 competition.

The proposal, which seeks to raise between 400 million and 600 million Australian dollars by offloading up to 49 percent stakes in the eight BBL teams, drew a firm no from Cricket New South Wales on Wednesday. Chief executive Lee Germon announced that the state's franchises, Sydney Thunder and Sydney Sixers, would not participate in Cricket Australia's ongoing valuation process. "Our biggest fear is the external investment coming into a cricket ecosystem which is working very effectively and very well now," Germon said. "We see some risks here, which Cricket Australia share, by the way. One of the risks is that you suddenly open up the involvement of external investors who will not have aligned goals with the states or Cricket Australia in terms of how they want the game to be run."

Cricket Queensland, owner of the Brisbane Heat, also deferred its decision following a board meeting, opting to seek further details from Cricket Australia...