Cricket South Africa on Friday announced a new six-team franchise based T20 league, to be played in January next year. (More Cricket News)

The league is set to comprise six privately owned franchises playing each other in a double round before the top three sides move to the play-off stages.

Thirty-three matches will be played over three to four weeks. Like the Indian Premier League, the tournament will allow up to four international players to feature in the playing XIs of each team.?

The date of the auction, fixtures and details will be announced at a later date.?

The first edition of the competition will be played in January 2023, immediately after South Africa's tour to Australia. The first month of the year will then become the window for the league.?

“We are excited by the formation of something this fresh and invigorating, which also offers the opportunity for private investment into the franchises,” said Pholetsi Moseki, CSA CEO.?

“CSA has already received interest from a number of potential local and international investors,” he added.

Moseki said that a sustainable business model had been created for both the league and the teams, with a healthy salary bill to attract the very best local and international players.

A new company formed by CSA and broadcaster SuperSport will manage the tournament.

The league is also actively looking at the possibility of a women’s T20 event to coincide in the coming years.