Johannesburg: Following in the footsteps of the Indian Premier League (IPL) and Australia's Big Bash League (BBL), Cricket South Africa (CSA) on Saturday announced a new eight-team franchise based league -- #T20 Global League -- tentatively scheduled to start in the last quarter of 2017.

The tenders for applying for franchises in the league are already out, according to a statement from the board.

CSA President Chris Nenzani and CEO Haroon Lorgat's presentation to the International Cricket Council (ICC) board in Dubai this week reportedly met with a favourable response.

According to the rules of the new league, potential owners must submit "an Expression of Interest," and "a formal bid." 

The CSA will then evaluate the bids before announcing the team owners. The entire process will continue till March 3. 

"Our vision is to drive the creation of a new #T20 destination league in South Africa that would energise the sport of cricket in South Africa by creating a global platform for the best-in-class to perform and showcase their talent to a global audience," Nenzani said in a statement.

"We have received a very favourable response to our plans from the ICC and Member Boards and look to their support in our endeavour. We now look forward to another exciting chapter in the evolution of South African cricket and to the whole game benefiting from our new #T20 Global League," he added.

Calling it a "landmark day" for the board, Lorgat said: "Early feedback from the marketplace suggests that there is tremendous interest in our Global Destination League from around the globe."

"This new #T20 Global Destination League offers great opportunities for investment in South Africa and South African cricket, and we are excited by the number of local and international superstars that will feature in the league."

"We are also confident that the window we have chosen will make it possible for franchises to attract top class players to South Africa," he added.