New Delhi: The BCCI today launched its own cash-rich domestic and international Twenty20 leagues with the support of top Test playing nations, a move which is seen as a counter to the unofficial venture floated by the Essel Group.
The high-profile league was announced by BCCI vice-President Lalit Modi at a crowded press conference where the top representatives of several Test playing nations and the International Cricket Council were present.
Apart from the Indian Premier League (IPL), the BCCI also announced the international Champions Twenty20 League which will feature the top two clubs of India, Australia, South Africa and England.
The Champions Twenty20 League will carry a prize money of $5million (Rs20 crore), the highest ever purse for a cricket event. The IPL will offer a prize money of $3million (Rs12 crore).
Giving details of the cash-rich league, Modi said that the IPL will be held in April next year, while the Champions Twenty20 League will be played in October 2008.