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SRK, GMR Group among franchise owners for South Africa T20 League

MUMBAI: Two Indian Premier League (IPL) franchise owners will also own two largest teams of Cricket South Africa’s (CSA) new T20 Global League.

Bollywood star and Kolkata Knight Riders (KKR) owner Shah Rukh Khan and Delhi Daredevils owner GMR Group have spread their business interest to South Africa. While Khan will own the Cape Town franchise, GMR Sports will have the Johannesburg team. Khan also owns a franchise in the Caribbean Premiere League (CPL).

CSA on Monday revealed the eight team owners of the upcoming T20 Global League at The Bvlgari in London.

What makes South Africa interesting is that it has a large India and Pakistan diaspora.

EY (previously known as Ernst & Young) ran the team owner selection process to ensure integrity, compliance and due diligence throughout the process.

“Competition was stiff, with more than 150 expressions of interest (EOI) received from around the world and a shortlist of heavy hitters to consider, but after rigorous discussions and engagement with each of the potential owners, we are certain that our final eight owners have the perfect combination of strategic insight and passion needed to make the first T20 Global League a complete success,” said CSA president Chris Nenzani.

The official eight team owners, host cities and marquee players are:

The CSA offers Tier 1 cities Johannesburg and Cape Town for $50 million to be paid over a period of 10 years and Tier 2 cities for $30 million. The salary cap has been pegged at $1.5 million (about Rs 10 crore) a year.

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