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The Board of Control for Cricket in India (BCCI) and the England and Wales Cricket Board (ECB) have reportedly refused to back Saudi Arabia’s ambitious plans to launch a high-profile T20 league, according to British media reports on Wednesday.
The proposed league, which aimed to attract global stars with a USD 400 million investment, was designed on the lines of tennis Grand Slams, featuring eight franchises playing across four venues throughout the year.
However, the project appears to have hit a roadblock with both BCCI and ECB reportedly unwilling to issue No Objection Certificates (NOCs) to their players.
As per the report, both cricket boards have aligned to resist Saudi Arabia’s T20 league, primarily to shield their own flagship competitions, the Indian Premier League (IPL) and The Hundred, from a potential player exodus and financial disruption.
It is also believed that both boards intend to raise the issue within the International Cricket Council (ICC), pushing for restrictions on player participation in the Saudi venture.
On the other hand, Cricket Australia (CA) is said to be open to discussions with Saudi investors, as it looks to tap private investment for its Big Bash League (BBL).
For the unversed, currently, BBL teams are owned by state associations and the governing body.
Meanwhile, the IPL, now valued at approximately USD 12 billion, remains a dominant force in franchise cricket.
The ECB has also taken steps to boost its financial standing, recently offering 49 percent stakes in The Hundred teams to private investors.
Cricket South Africa (CSA) had earlier raised over USD 136 million through the sale of SA20 franchises to Indian owners, showcasing the growing influence of private investment in the sport.
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