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CA looks for Indian investors
Friday 29 July 2011

Cricket Australia is trying to attract investment from wealthy Indians who may wish to invest in the Twenty20 Big Bash League as it plans to generate around USD 50m from the sale of franchises.

If their foray to Indian shores remains successful, two franchises - one from Melbourne and one from Sydney - will find themselves immediately richer by USD 2 million while the relevant state associations and CA will share the rest of the windfall, 'The Australian' reported.

Though, private investment in the eight city-based franchises was proposed during the formulation of the concept, the process got derailed until a recent decision to allow two of the sides to test the market and sell a minority shareholding.

Reports suggest that CA is hoping to generate around USD 50m from the sale of the two franchises.

Investors will have to pay the money upfront. The teams will retain USD 2m of the sale price while the rest will be split equally between the state and CA after sales costs are taken out.

Cricket New South Wales (NSW) had earlier flown to India to meet a number of Indian companies and Victoria, too, had investors waiting.

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