Australia set for mega-rich IPL style tournment

Australian cricket is about to receive its biggest shake-up ‘since Kerry Packer’s World Series Cricket’ after an attempted buy-out by Indian business interests according to reports.

The Daily Telegraph has revealed that an IPL style tournament is about to be introduced to the Australian cricket calendar in a move that could be worth up to $160m to the sport.

NSW and Victoria have already sold off their share of the mooted tournament’s profits to Indian-based investors in deals that are said to be worth $60m.

A crucial period lies ahead for Cricket Australia which as a body have to decide whether or not to accept further Indian investment into what would be an eight-team tournament.

The Telegraph reports that Indian investors have chased a 49 per cent ownership stake in the two big guns of domestic cricket in NSW and Victoria.

A CA spokesman told the newspaper that this moment could be more influential in cricket than when Kerry Packer, “basically fund[ed] the development of Australian and world cricket for 25 or so years.”

The Australian tournament will involve eight teams, two from Sydney, two from Melbourne, and one from Hobart, Adelaide, Brisbane and Perth respectively.

It will feature all of Australia’s stars as a clear international window will be established.

Overseas stars from India, England, West Indies and South Africa will also be offered mega-contracts to play in a tournament that will replace the traditional Australian fixtures in the new year.

The first staging of the tournament is expected to be in January 2012.