Owner of Stellenbosch franchise pulls out of T20 Global League

The investment company was one of two local buyers - out of eight - unveiled as franchise owners by Cricket South Africa in June

Faf du Plessis takes part in a fielding drill, Trent Bridge, July 13, 2017

Faf du Plessis was named marquee player of the Stellenbosch franchise  •  Getty Images

Brimstone Investment Corporation Limited, the investment company which had been unveiled as one of the eight franchise owners of South Africa's T20 Global League in June, has said it will not proceed with the acquisition, according to IOL. The company, headed by Mustaq Brey, was set to run the Stellenbosch franchise that was likely to play out of Boland Park in Paarl.
Brey, CEO of Brimstone, was quoted by IOL as saying: "We follow a rigorous investment process. This venture had to undergo the same process and be tested against our standard investment criteria as all other investment proposals. Our investment decisions take cognisance of the risks and benefits to all our stakeholders. We wish Cricket South Africa well with the T20 Global League and will continue to support the development of, and access to, the sport in various other ways."
Brimstone was one of only two South African owners in the league proposed by Cricket South Africa. Osman Osman, the owner of a lifestyle brand, was the other local buyer, while the other six franchises went to two IPL franchises, two PSL franchises, and representatives from Hong Kong and Dubai. These seven franchises will be based out of Durban, Benoni, Pretoria, Cape Town, Bloemfontein, Johannesburg and Port Elizabeth.
More than 400 players have registered their interest in playing in the league's inaugural edition ahead of a player draft in August, and Faf du Plessis, South Africa's Test and T20 captain, was named the Stellenbosch franchise's marquee player by the South Africa board.