A proposed A$1.13 billion (approx. US$802 million) roofed stadium in Hobart could become one of the most valuable assets in Australian cricket’s push towards private investment, with Tasmania positioning itself as a potential frontrunner for investor interest should Big Bash League privatisation proceed. According to a report by ABC’s Chris Rowbottom, Cricket Tasmania believes the Macquarie Point development could significantly strengthen the appeal of the Hobart Hurricanes as discussions continue over the future ownership structure of BBL clubs.
The stadium, which is planned to become the Hurricanes’ home venue from 2031, would be unlike any other cricket ground in the world. Pending successful testing, it is expected to become the first fixed-roof stadium capable of hosting international Test, ODI and T20 cricket in all weather conditions.
Explaining the attraction for prospective investors, Dominic Baker, Cricket Tasmania Chief Executive Officer, told ABC: “The chance to be involved in the first roofed cricket stadium in the world that potentially has all three formats played in it at an international level is something I think will be very attractive to some of our Indian friends.”
Baker was part of a recent Cricket Tasmania delegation that travelled to India for discussions with prospective investors, with meetings facilitated by the Raine Group, the advisory firm that oversaw the sale of stakes in England’s Hundred teams. The visit formed part of preparations for a potential next phase of BBL privatisation, which could eventually include formal valuations and market testing of the league’s eight clubs.
Stadium precinct could add value beyond cricket
Cricket Tasmania believes the Hurricanes could offer investors more than simply a stake in a cricket franchise. Officials have explored the possibility of combining team ownership opportunities with broader commercial developments surrounding the stadium precinct, including hospitality, retail and infrastructure projects.
“We would like to think we can bring a partner into Tasmania that is not only involved in our cricket team but is also investing in the community,” Baker said.
He added: “So, with what will happen around the stadium, and the opportunities that will happen around that — hotel, retail, all the stuff that goes with a new billion-dollar stadium being built — that’s exciting to people.”
Cricket Tasmania officials believe the project could mirror investment structures seen elsewhere in world cricket. One example frequently cited is Indian infrastructure giant GMR Group’s acquisition of a 49 per cent stake in Southern Brave as part of a wider deal that also included Hampshire County Cricket Club and associated assets.
Under proposals being discussed within Australian cricket, Tasmania could retain a controlling 51 per cent stake in the Hurricanes while selling the remaining 49 per cent to outside investors. That minority stake has been valued at between A$60 million and A$100 million (approx. US$43 million-US$71 million).
The prospect of majority local ownership remains particularly significant for Tasmania because the Hurricanes licence is currently owned by Cricket Australia. A transaction would allow Tasmania to secure long-term majority control while bringing in external capital.
Identity remains a key consideration
While Cricket Tasmania sees significant upside in attracting strategic investors, officials acknowledge that ownership changes could raise questions around branding and identity.
“We’ve seen other instances in The Hundred where IPL teams have transferred their brands across to teams they’ve bought into. We’ll have to consider that,” Baker said.
He stressed, however: “But there’s some non-negotiables for us around our identity as Tasmanians and making sure that is absolutely protected.”
The issue has become increasingly relevant following Cricket Victoria’s recent proposal to potentially sell one of its BBL licences while repositioning another around a broader Victorian identity, a move that has intensified debate across Australian cricket.
Australian cricket remains divided over privatisation
Despite growing momentum behind private investment, consensus has yet to emerge among Australian cricket’s stakeholders.
Cricket Australia views privatisation as a way to strengthen the financial future of the BBL and maintain its competitiveness against increasingly wealthy global T20 leagues, particularly the IPL and SA20. The governing body believes a sell-off could generate more than A$500 million in fresh capital for the game.
Defending the push for reform, Todd Greenberg, Cricket Australia Chief Executive Officer, told ABC: “I’ve been saying all along that change in cricket is difficult, and change is hard for some people, and what we’re trying to do here is bring a level of change and challenge to professional cricket.”
Greenberg has argued that Australian cricket can no longer rely solely on traditional bilateral revenue streams as competition for players, investment and audience attention continues to intensify globally.
Outlining Cricket Australia’s objectives, he said: “One is, we retain our key Australian players playing for their country, ensuring we keep them centrally contracted and secondly, which is equally important, is creating more funds to put into the grassroots, participation and community cricket.”
Not all states share that view. Cricket New South Wales and Queensland have expressed concerns that selling stakes in franchises would provide only a short-term financial boost while leaving unanswered questions about long-term sustainability once privatisation proceeds are exhausted. South Australia has shown greater support for an opt-in model, while Western Australia remains open to further discussions.
Investors could help the BBL remain competitive
Supporters of privatisation argue that the BBL risks losing ground unless it attracts new investment capable of enhancing its commercial and playing strength.
Bharat Sundaresan, Cricket Journalist and Commentator, said as quoted by ABC: “If the BBL doesn’t catch up with those leagues, it will fall behind, and it has fallen down that pecking order quite dramatically in the last four or five years.”
He added: “You’re getting hardy, talented players coming to the BBL but with no real name value these days, so I think that needs to be plugged, because that’s the only way you’ll make your product more attractive.”
Sundaresan also dismissed suggestions that overseas investment would automatically result in Australian cricket losing control of its domestic competition.
“December and January is still the ‘El Dorado’ of sorts, which is why they’re keen to come in. But I don’t think Cricket Australia, if they play this right — which I think they will, because of the federated model — will lose the control that people fear they will.”
With negotiations between Cricket Australia, state associations and the Australian Cricketers’ Association continuing, Tasmania believes its proposed roofed stadium could place the Hurricanes in a uniquely strong position if the BBL ultimately opens its doors to private investors. For a state seeking both sporting and economic growth, the stadium may prove to be far more than just a venue.
