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IPL franchise owners of teams like Mumbai Indians, Chennai Super Kings, Lucknow Super Giants, Sunrisers Hyderabad, Rajasthan Royals and co-owners of Delhi Capitals on Wednesday were announced as winners of purchasing all six teams in South Africa's upcoming new T20 League.
Through an official statement, Cricket South Africa (CSA) said that the six franchise owners were confirmed following a rigorous process over the past few months. The open bid process, managed by Deloitte Corporate Finance, attracted over 29 entities who expressed interest in owning a franchise worldwide.
Over 10 venues were made available for interested bidders to own a franchise and all 10 of them received expressions of interest.
Reliance Industries Limited, owners of Mumbai Indians, will operate the Cape Town team based at Newlands while RPSG Sports Private Limited, owners of Lucknow Super Giants, bought the Durban franchise based at Kingsmead.
Sun TV Network Limited, owners of Sunrisers Hyderabad, pi