Privatisation in the BBL has been approved, just months after Cricket Victoria controversially decided it wanted to merge the Melbourne Stars and Melbourne Renegades.
Despite NSW and Queensland being fiercely against privatisation, CA is forging ahead with the bold concept.
Tasmania, Victoria and Western Australia have long been in support of the decision.
CA chairman Mike Baird stressed Australian cricket would retain control of international scheduling, player availability, the BBL salary cap and branding proposals.
"By opening the door to private investment in the Big Bash Leagues, Cricket Australia is taking a deliberate step to strengthen and secure the long-term future of the game," Baird said.
"This is a significant decision that has involved an enormous amount of analysis, discussion and collaboration over many months.
"I'd like to thank all involved as we move to what we believe is the best way to secure cricket's future in this country, strengthen the Big Bash and protect our standing on the global stage."
Cricket Victoria will still manage the Stars, but the Renegades have undergone dramatic change and will operate in caretaker mode in what will be their last season before being sold and rebranded.
CA will allow bids from private investors for the Renegades to have them playing under new management for the 2027-28 season.
The Stars will also likely be renamed after the Renegades are sold off.
CA will consider allowing other clubs to go on the market, depending how well the sale of the Renegades goes.
"We're enthusiastic about moving forward with this process and taking the Melbourne Renegades to market," Cricket Victoria director Shaun Richardson said.
"The sales process allows prospective parties to express their interest in purchasing the Melbourne Renegades and demonstrate why they would be the right fit for Victorian cricket.
"Private investment will unlock value for reinvestment across Victorian cricket, from the grassroots through to the elite game."
Privatisation opens the door for BBL clubs to be renamed and colours changed, as was the case with The Hundred in England last year.
Indian Premier League owners took charge of some franchises in The Hundred - Oval Invincibles (now MI London), Manchester Originals (Manchester Super Giants) and Northern Superchargers (Sunrisers Leeds).
It could mean the winners of the last two BBL titles - Hobart Hurricanes and Perth Scorchers - look very different for the 2027-28 season.
The sales will initially provide a huge windfall of cash for the states and CA.
The upcoming BBL gets underway on December 12 when the Renegades and Scorchers play a historic match in Chennai.
8°C