Cricket Australia is selling the Melbourne Renegades. Is the Big Bash the next IPL-style investment?

For the first time in its history, a Big Bash League team is for sale. Cricket Australia is selling 100% of the Melbourne Renegades to a private owner, and Indian Premier League team owners are among those circling. It’s the biggest shift in Australian cricket’s business model in years. But is the Big Bash really the next IPL-style opportunity, or something quite different?

What’s happening

The Big Bash League is to be partially privatised, beginning with the sale of the struggling Melbourne Renegades, Cricket Australia announced in September. CA is selling the whole club: it confirmed a “self-determination” privatisation model, inviting private investors to bid for a full 100% stake in the Renegades. 

Cricket Australia’s chair framed it as a turning point. “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,” said Cricket Australia chair Mike Baird. 

The new owner won’t take over straight away. The Renegades stay under Cricket Australia’s caretaker control through the current BBL and WBBL season — new ownership begins in 2027-28. 

Where the sale stands now

The process is well under way. Cricket Australia, Cricket Victoria and advisory firm Raine Group opened a formal sale process for the Melbourne Renegades’ team participation agreement, seeking expressions of interest from known high net worth individuals and investors. Cricket Victoria’s chief executive, Nick Cummins, said the parties expect to have identified a preferred owner by the time the Big Bash League season begins on 12 December 2026. 

Interest has been strong. Cricket Victoria said around 20 to 30 parties had shown initial interest, including up to six ownership groups linked to Indian Premier League franchises. And the highest bid won’t automatically win: the final process will not necessarily favour the highest bidder. 

Why Australia is opening up now

Money for the whole game. Cricket Australia has been clear that this is about funding cricket’s future. Baird said inviting private investment would allow cricket to grow at every level of the game. The potential prize is large: CA has forecast up to A$600 million from Big Bash franchise stake sales. 

Competition from richer leagues. The Big Bash needs fresh capital to compete with cash-rich leagues like the IPL and England’s The Hundred, both of which have already lured private ownership groups. 

A compromise between the states. Not everyone agreed on selling the whole league. CA adopted a club-by-club approach after New South Wales and Queensland rejected a league-wide sale. Other clubs could follow: Hobart Hurricanes, Perth Scorchers and Melbourne Stars are the other clubs believed to be interested in private investment. 

So, is the Big Bash the next IPL?

In our view, no, and that’s not necessarily a bad thing. The Big Bash is a different kind of investment.

The scale is smaller. As we reported last week, every IPL team is now worth at least $1.5 billion. CA’s forecast for stake sales across the entire Big Bash is up to A$600 million. Even The Hundred is seen as a stretch: a AU$272.8 million price paid for 49% of London Spirit is seen as an unrealistic comparator for the Renegades sale. 

The Renegades are a turnaround project. They’re champions in 2019 and strugglers since, and they share Melbourne with the Stars. A buyer is purchasing potential, not a ready-made success. 

There are open questions. Australia’s players’ union says key issues are unresolved. Its chief executive, Paul Marsh, said the two bodies remain a “long away apart on a new agreement” which includes a renegotiated pay deal with the players. 

But it fits a global strategy. For IPL owners, a Big Bash team isn’t about matching IPL returns. It’s about owning a team in another major cricket market and season, alongside their teams in other leagues.

Why IPL owners are interested

IPL groups have been building global cricket portfolios for years, and Australia is one of the few big markets they haven’t entered. Earlier reports linked two of the biggest names to Melbourne: IPL owners Sun Group (SRH) and Reliance Industries (MI) are reportedly among the interested parties. Sun Group already owns Sunrisers Leeds in The Hundred and Sunrisers Hyderabad in the IPL. 

For these owners, the benefits stack up:

• A year-round calendar: the Big Bash runs during the Australian summer, filling a gap in their schedule.

• Shared scouting and coaching: players, coaches and data can move across the group’s teams.

• Brand reach: an Australian team builds a fan base in a major cricket nation.

As one analysis put it, for IPL owners, it provides another potential route into an established international market. 

The question that matters

Will an IPL-owned team change the Big Bash, or will the Big Bash change how IPL owners think about global cricket? The Renegades sale is a test. If it attracts a strong buyer and a fair price, more Big Bash clubs are likely to follow, and Indian money could become a major force in Australian cricket.

At The Sports Columnist, we cover the deals, the money and the decisions behind sport. Every game has a second scoreboard, and Australian cricket has just put one of its teams on it.

Sources: Cricket Australia and Cricket Victoria announcements; reporting on the Renegades sale process, September–October 2026.

Read more from The Sports Columnist
→ The IPL’s most valuable teams
→ Cricket Australia hits record A$601 million revenue
→ The India effect: why every cricket board wants India to visit
→ Get The Dugout, our free newsletter, every Monday