Cricket Australia is poised to explore the possibility of expanding the Big Bash League to ten teams, contingent upon the approval of controversial plans to sell off some existing franchises.

The Cricket Australia Board convened on Wednesday and expressed a determination to pursue a hybrid model. This model suggests selling some current franchises after an initial proposal for wholesale privatization was rejected by New South Wales and Queensland in April.

Key points from the meeting include:

• South Australia proposed an alternative model allowing the eight BBL clubs to sell stakes voluntarily.
• Cricket Australia has reportedly made significant strides in garnering support for this alternative plan, although a board vote may not occur this week.
• Approval from four of the six states is necessary to initiate the sale process, with Victoria, Western Australia, and Tasmania expressing strong support.

Cricket Australia has engaged Raine Group, a US bank, to oversee the sale and is actively assessing market conditions. Recent discussions with owners from the Indian Premier League and The Hundred during a visit to England have reinforced the belief that there is substantial interest from investors in the Big Bash.

Initial analyses by Raine suggest potential valuations of up to $200 million. This interest has sparked internal conversations about future expansion, although these discussions are still in the preliminary stages and no new markets have been identified yet.

In contrast to the England and Wales Cricket Board, which raised nearly $1 billion by selling stakes in the eight Hundred franchises, Cricket Australia plans to invite private investments on a piecemeal basis, rather than holding a mass auction. Notably, Cricket Victoria has announced its intention to fully sell the Melbourne Renegades, targeting the Indian market, while continuing to manage the Melbourne Stars.