New Delhi, Sept. 8 -- Cricket Australia (CA) has approved the introduction of private investment into the Big Bash League (BBL), with the Melbourne Renegades set to become the first franchise to be offered for sale.

CA confirmed on Tuesday that it would begin inviting bids for a 100 per cent stake in the licence currently held by the Melbourne Renegades.

The new ownership is expected to be in place for the 2027-28 Big Bash League and Women's Big Bash League (WBBL) seasons.

"Cricket Australia and its State members are united in our commitment to investing in and growing the BBL and WBBL, and to advancing the interests of cricket at every level.

"By opening the door to private investment in the Big Bash Leagues, Cricket Australia is tak...