Sri Lanka Premier League’s initially planned structure has been changed with authorities deciding to adopt a franchise system going in line with the IPL and BPL, a media report said.
Earlier, the plan was to have the ownership of all teams under the SLC’s control, but now private firms are given the opportunity of owning a franchise or several.
Accordingly, the reserve price for a franchise has been set at $ 3 million while the teams will be leased for a period of seven years.
Those interested in taking part in the SLPL will be given the chance to bid for a maximum of three teams.
According to the report, the tender process to bid for franchises has already commenced with the deadline set for 25th June.
The inaugural Sri Lanka Premier League is expected to be kicked off in August and seven teams have lined up to compete.
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