Cricket Australia in talks with Morgan Stanley for privatisation

Australia recently won the Test series against South Africa [Source: AP]

As per emerging reports, Cricket Australia is mauling over privatising itself after signing the new broadcast deal with Foxtel and the Seven network. 

According to the Sydney Morning Herald, the national governing body is involved in discussions with the US investment bank Morgan Stanley for this purpose. 

As it seems, the apex body wants to ensure a significant revamp of the domestic game's finances by joining a working group comprising representatives from states, territories and the Australian Cricketers Association. 

It is believed that the current CA chairman Lachlan Henderson, his successor Mike Baird, Cricket New South Wales chair John Knox, ACA chief executive Todd Greenberg and Cricket Australian Capital Territory (ACT) chair Greg Boorer are the integral members of the working group. 

The governing body will apparently form a separate entity dedicated to its revenue-raising activities, such as broadcast, sponsorships and digital deals. Furthermore, the new company will sell a percentage stake to the investors funding hundreds of millions as capital. 

Earlier, Cricket Australia listed the diversification of revenue streams through innovative ways among their primary objectives in their five-year blueprint released in August 2022. 

So, considering all these facts, we shouldn't be surprised if the governing body actually gets privatised in the near future.

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