Confirming on Tuesday it will allow BBL clubs to be privatised, CA has declared the huge decision will help keep homegrown players in Australia amid lucrative contracts from rival T20 leagues.
The self-determination model comes just months after Cricket Victoria's rogue decision to try and merge the Melbourne Stars and Melbourne Renegades.
Despite NSW and Queensland being fiercely against privatisation, CA is forging ahead with the bold concept.
Tasmania, Victoria and Western Australia have long been in support of the decision.
CA chairman Mike Baird stressed Australian cricket would retain control of international scheduling, player availability, the BBL salary cap and branding proposals.
"It's pretty easy - if you want to be a partner, here's the schedule, and we decide what the schedule is," Baird said at the SCG on Tuesday.
"It's a very basic protection that'll be there every step of the way.
"We've got a really unique position here, where actually the Big Bash games that follow the Tests are some of the highest rated.
"The schedule of Tests, the availability of players, that remains in CA's hands.
"The opportunity is to compete with the other leagues that their salary levels, in some cases, are higher or significantly higher."
Australia captain Pat Cummins and women's skipper Sophie Molineux fronted the press conference with Baird and CA chief executive Todd Greenberg, despite the cricketers' association yet to agree to terms on privatisation.
"Privatisation, if done well, can be a great thing for the sport," Cummins said.
"So many benefits for obviously the Big Bash league, but as an Aussie captain as well, Test cricket's so important for me, and this sets us up really well for the future."
Cricket Victoria will still manage the Stars, but the Renegades have undergone dramatic change and will operate in caretaker mode in what will be their last season before being sold and rebranded.
CA will allow bids from private investors for the Renegades to have them playing under new management for the 2027-28 season.
The Stars will also likely be renamed after the Renegades are sold off.
CA will consider allowing other clubs to go on the market, depending how well the sale of the Renegades goes.
"Private investment will unlock value for reinvestment across Victorian cricket, from the grassroots through to the elite game," Cricket Victoria director Shaun Richardson said.
Queensland intend to retain full control of the Brisbane Heat, but "remain open to private investment at the appropriate time".
Privatisation opens the door for BBL clubs to be renamed and colours changed, as was the case with The Hundred in England last year.
Indian Premier League owners took charge of some franchises in The Hundred - Oval Invincibles (now MI London), Manchester Originals (Manchester Super Giants) and Northern Superchargers (Sunrisers Leeds).
It could mean the winners of the last two BBL titles - Hobart Hurricanes and Perth Scorchers - look very different for the 2027-28 season.
The sales will initially provide a huge windfall of cash for the states and CA.
The upcoming BBL gets underway on December 12 when the Renegades and Scorchers play a historic match in Chennai.
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