Melbourne Renegades put up for sale as Cricket Australia push BBL privatisation

MELBOURNE: Cricket Australia (CA) has moved ahead with the next phase of bringing private investment into the Big Bash League (BBL), announcing that the Melbourne Renegades will be the first club to enter a sales process.

The development comes despite CA and the Australian Cricketers’ Association (ACA) remaining “a long way apart” on a key issue concerning the renegotiation of their memorandum of understanding (MoU) over player payments.

CA chair Mike Baird and chief executive Todd Greenberg announced on Tuesday that the board had formally approved a framework allowing state associations to take their BBL clubs to market to sell stakes or, potentially, the clubs in their entirety to private investors.

The Renegades will be the first club to go through the process, with CA inviting bids from private owners with a view to the Melbourne-based franchise playing the 2027-28 season under new ownership.

“Cricket Australia and its State members are united in our commitment to investing in and growing the BBL and WBBL, and to advancing the interests of cricket at every level,” Baird said.

“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, accelerate growth and ensure we can keep investing in community cricket and grassroots participation, domestic and international pathways and the elite level.”

CA said the self-determination model would allow each state member to assess the best pathway for its own club and community.

The governing body added that CA and its state members would retain control over key areas of Australian cricket, including international scheduling, player availability, BBL salary caps, branding proposals, the reserve price for a licence and approval of prospective investors.

“Beginning the sales process for the Renegades allows us to take the first step in a self-determination model for our members and represents a defining moment for the game,” Baird said.

However, the move has highlighted an ongoing disagreement between CA and the ACA over how proceeds from private investment should be treated under the existing MoU.

The ACA is entitled to 27.5% of Australian cricket revenue under the current agreement and believes that the definition includes proceeds from the sale of stakes in BBL clubs.

CA, however, maintains that players would only be entitled to 27.5% of the interest generated from sales proceeds if the money is reinvested.

ACA chief executive Paul Marsh said the announcement did not alter the need for the two organisations to reach an agreement.

“We note today’s announcement from CA about proceeding to the next stage of the proposed privatisation of the Big Bash Leagues,” Marsh said.

“From the ACA’s perspective, today’s announcement doesn’t change the work that’s required to be done for privatisation of the Big Bash Leagues to proceed. A new MoU needs to be negotiated between ACA and CA and currently we are a long way apart on a possible new deal.”

Marsh added that CA could not proceed with the sale of any teams without the ACA’s agreement.

A key issue is whether the proceeds from private investment should be included as Australian Cricket Revenue under the MoU. The ACA has proposed an independent process to determine how the agreement should be interpreted.

“The ACA remains committed to exploring the privatisation of the Big Bash Leagues but will do so on the basis of any deal being good for the game and the players,” Marsh said.

Greenberg acknowledged that negotiations remained difficult but expressed confidence that a resolution could be reached.

“Paul Marsh and I have had good dialogue. Yes, we’re a fair way apart in what the negotiation looks like,” Greenberg said.

“We’ve got an MoU that runs through till the end of 2028, so we think we’ve got time. It’s ironic that what we’re trying to do in this particular model is put more money into the hands of the players.”

The ACA began negotiations in February by offering to forgo its 27.5% share of the sale proceeds in return for a permanent increase in the players’ ongoing share of Australian cricket revenue. That figure is understood to be as high as 33%, but the proposal has repeatedly been rejected by CA.

CA is understood to have been receptive to the possibility of an independent body determining the interpretation of the MoU, although it remains unclear when such a process could take place.

The latest development follows a CA board meeting on June 15, after which the governing body said four key requirements needed to be fulfilled before the privatisation project could move to its next phase. One of those requirements was an agreement with the ACA on the mechanics of the self-determination model.

Meanwhile, Cricket Victoria (CV) has welcomed the decision to begin the Renegades’ sales process.

CV had caused uncertainty earlier this year when it announced plans to merge the administrations of the Melbourne Stars and Renegades. The proposal included renaming the Stars ahead of the 2026-27 season.

The plans were subsequently revised, with the Stars retaining their branding for another year while the Renegades continue to operate independently under CA’s oversight during the sales process.

CV director Shaun Richardson said there was significant interest in the Renegades from potential investors in Australia and overseas.

“We’re enthusiastic about moving forward with this process and taking the Melbourne Renegades to market,” 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.

“There’s a clear level of interest both locally and internationally, and we’re committed to working alongside Cricket Australia to identify a partner who shares our ambition for cricket in Victoria.”

Richardson added that private investment could generate funds for reinvestment across Victorian cricket, from grassroots programmes to the elite level.