Twelve teams will contest in the inaugural Champions League Twenty20 (CLT20) tournament to be played in India from Oct
8-23.
The tournament will feature three teams from India (two finalists and the top league finishing team), top two domestic T20 teams from South Africa, England, Australia and the domestic T20 Champions from New Zealand, West Indies and Sri Lanka.
A total of 23 matches will be held in CLT20 carrying a prize pool of $6 million.
The teams will be divided into four groups of three each and will initially play each other on a league basis. The top two teams from each group will qualify for the second stage and four teams from the second stage would make it to the semi-finals, it was announced on Sunday.
The tournament was scheduled to be held in India last year but was postponed because of the Mumbai attacks.
The Royal Challengers, Deccan Chargers and Delhi Daredevils will represent India, Victoria and New South Wales will represent Australia, while the Cobras and Eagles will the two South African teams.
The tournament is a joint venture by the Board of Control for Cricket in India (BCCI), Cricket Australia (CA) and Cricket South Africa (CSA).