CSA’s global league derails yet again; Supersport pulls out of equity deal

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Cricket South Africa’s plans to launch the scrapped Global T20 league have again run into trouble. SuperSport, CSA partner in the new company formed to launch the league, has opted out of the equity deal with the South African Cricket Board.

SuperSport has announced that it will not be pursuing a proposed shareholding agreement with Cricket South Africa for its domestic T20 tournament. Originally called the T20 Global League, the tournament was scrapped just weeks before it was due to be launched at the end of 2017.

In June, CSA and SuperSport joined forces to form a new company called Newco. However, SuperSport has confirmed its withdrawal from the company. “This is unfortunate,” said SuperSport CEO Gideon Khobane.

Also Read: CSA Global T20 in limbo, franchise owners threaten legal action

“We reached an in-principle agreement with CSA regarding co-ownership of this event in June this year. Since then, the parties have been engaged in amicable discussions regarding the details of the proposed relationship. We have used our best endeavours to reach consensus with CSA around that shareholding model, but this has unfortunately not happened. The discussions on the in-principle shareholding agreement terminated on July 23, 2018,” said Khobane.

The broadcaster, while confirming that it would no longer pursue the T20 equity deal has further stated that it was in talks with CSA over broadcasting rights.

“We are, however, engaged in constructive discussions with CSA regarding the broadcast of the event,” concluded Khobane.

Another major issue for CSA is that at least four of the original franchise owners from the failed 2017 product have threatened legal action against CSA, which will not just give the South African board legal hassles but also force the headache of finding new franchisees.

The inaugural event is expected to be played during November and December 2018.

CSA is now left without an investor following Supersport’s withdrawal.

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