Former Ind T20 League kingpin part of firm to run renewed CSA T20 cricket
Former Ind T20 League COO part of establishment to run renewed CSA T20 Cricket; Ind T20 League franchises shows interest
Former Ind T20 League Chief Operating Officer Sundar Raman has a stake in the firm that will try to introduce a T20 competition for/in South Africa. That should convince potential investors that Cricket South Africa are serious about their third attempt to get a fragment of the global tournament pie. Raman being cast as the solution to a problem he could be considered to have helped cause will be seen as an irony to others.
As per documents, Raman is listed as holding 12.5% share in the company disclosed on Friday as the medium to pave the foundation of the tournament. CSA holds 57.5% and broadcasters SuperSport the remaining 30%. The inaugural edition of the as yet unnamed 6-team tournament is scheduled for January 2023.
If successful, the tournament will do what the now defunct Global League T20 and the short lived Mzanzi Super League did not: make money. The document describes CSA spending close to USD 32 million on the two ventures. The most notable return was the USD 1.6 million which were paid to CSA in the form of rights fees by the South African Broadcasting for 2019 MSL, the last time the tournament was played.
Over 10 years, the league's central costs are estimated at USD 56 million. SuperSport has committed USD 89 million to the project, and a minimum of USD 30 million in central revenue over 10 years has been forecast. The latter will be split equally between the league and the teams, who will keep funds generated by shirt sponsorships, ticket sales, hospitality and food and beverage sales. From the 11th year of the competition's existence, teams will pay the league 20% of their revenue as a franchise fee.
Prize money has been estimated at USD 2 million, and teams will have USD 1.5 million to spend on signing players.
The document says "letters/expressions of interest" from potential investors have been received from the Delhi, Chennai, Mumbai, Rajasthan, and a "Kevin Pietersen-led consortium".
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