The tournament is currently run by Cricket Australia but is competing against an increasing number of franchise T20 leagues
Australia international Usman Khawaja believes the Big Bash should move towards private ownership or risk being "left behind" by rival T20 leagues.
The tournament is currently run by Cricket Australia, with state bodies responsible for the eight teams but the main argument in favour of privatisation is the increase in financial pulling power and subsequent attractiveness of the BBL to overseas players.
The Indian Premier League, for example, is already privatised, offering six and seven-figure contracts to overseas signings, and franchises - such as Kolkata Knight Riders - are expanding their reach around the globe.
The Knight Riders group also own CPL franchise Trinbago Knight Riders and Major League Cricket side Los Angeles Knight Riders and were previously involved in South Africa’s T20 circuit.
Perth Scorchers won the 2021/22 Big Bash [Kelly DeFina/Getty Images]
A new T20 league in the UAE is also on course to be introduced in 2023, with its January-February slot in the calendar clashing with the Big Bash.
Khawaja said: "I personally think the BBL, if it wants to grow and be fair dinkum about it, we do need to think about privatising it. The BBL has been set up as a really good tournament for a long time but I genuinely think that's the next evolution.
"And I've had chats with Nick Hockley about this - I literally chatted to him about it two weeks ago - and I think he's on a very similar page. At some stage CA's got to let go of the reins a little bit.
"If that means doing it over a five-year plan, the ball's got to start rolling sooner rather than later. Because...if we're not careful we're going to be left behind, and you don't want to do that because the BBL is a great product."