Melbourne:Impressed with the success of cash-rich inaugural Indian Premier League (IPL), Cricket Australia has begun formulating regulations to start a similar competition Down Under next year.
CA Chief Executive James Sutherland confirmed that the board was in the process of finalising the structure, salary cap for franchises and participation of overseas cricketers of a Twenty20 championship in 2009-10 season.
The board will revamp the existing domestic league into an IPL-style tournament by making changes in its structure such as by selling ownerships to franchises to increase viewership, Sydney Morning Herald reported today.
Sutherland, however, acknowledged that the Twenty20 tournament would be on a less extravagant scale as compared to the Indian league with Australia's relatively smaller population and CA would not expect to generate the kind of money the IPL has been attracting.
"There's lots of challenges but we're absolutely committed to revamp our Twenty20 competition in a positive fashion," he said.