 "BCCI may launch new cricket league in T10 format next year: Report")
The Board of Control for Cricket in India (BCCI) is considering launching a T10 format cricket league, and it may begin between October and September next year, Moneycontrol reported on Friday. It said that BCCI secretary Jay Shay is working on a blueprint for the proposed league.
This comes at a time when the league with the shortest form of cricket, the 20-over Indian Premier League (IPL), has seen a rise in viewership as well as valuation. Earlier this week, Brand Finance released a report suggesting that IPL has gained the status of a decacorn with a valuation of around $10.7 billion.
The Moneycontrol report said that currently, the franchises have the right to refuse any new model that the BCCI proposes and is similar to the IPL.
The people aware of the developments, quoted in the report, said that there are some important factors that BCCI needs to consider before launching this new league. These include having an age bracket so that it does not eat up the popularity of IPL and how to ensure that the best white-ball cricketers participate in the league.
It added that currently, cricket boards are not earning enough through bilateral series, and this new series, and a potential revenue-sharing model, may help these boards financially. However, it may bring more danger to the 50-over format.
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For India, the need for finance may not be as immediate. Recently, Bloomberg reported that Saudi Arabia is looking to invest in the IPL. Under plans, the kingdom proposed investing as much as $5 billion into the league and helping lead an expansion into other countries, similar to the English Premier League or the European Champions League.
No official statement on the new league has yet been issued by the BCCI.