There's official announcement of the cancellation of the first edition of the Champions League Twenty20, which was to be held in Mumbai, Bangalore and Chennai, and was initially scheduled to be played from December 3 to 10 but was postponed due to the terror attacks on Mumbai.

Now, it has been announced by the governing council, comprising the Board of Control for Cricket in India (BCCI), Cricket Australia and Cricket South Africa that event would be held in October 2009.

Furthermore, six teams; two each from India, Australia and South Africa; have been confirmed as participants for the 2009 edition and by the end of January 2009, other participating teams will be finalized too. The winners/finalists of the domestic Twenty20 tournaments of the participating countries will receive the invitations. A whopping of sum of $6mn as the prize money is carried championship.

“The inaugural edition of the Champions League Twenty20 will now be held in India in October 2009. The governing council of the tournament took this collective decision after taking into account all aspects including the international calendar and the domestic schedules of the participating teams,” said Lalit Modi, chairman of Champions League Twenty20 and vice-president of BCCI.

All commercial rights for the tournament by paying $975 million for 10 years has been acquired by ESPN STAR Sports.