Dubai: Indian Premier League (IPL) commissioner Lalit Modi has been appointed chairman of the board of the Champions League Twenty20 tournament scheduled in December.

The decision was taken at a meeting of the three founding member boards - the Board of Control for Cricket in India, (BCCI) Cricket Australia (CA) and Cricket South Africa (CSA) here.

The inaugural Champions League Twenty20 will be held Dec 3-10 in India. Eight teams, consisting of the reigning winners and runners-up from the domestic Twenty20 competitions in India, Australia and South Africa, plus the winners of Twenty20 championships from Pakistan, and the reigning Twenty20 Cup champion from England, Middlesex, will compete in the event.

The prize money of $6 million will be shared between the teams and their players. The tournament will be contested by 12 teams from next year.

Source : IANS