New Delhi, July 29: The draw for the inaugural Champions League Twenty20 carrying a total prize money of $6 million and $3 million for the winner will be made on July 30. The Board of Control for Cricket in India, Cricket South Africa and Cricket Australia are the founding members of the Champions League that will be played at Bangalore, Hyderabad and New Delhi from October 8 to 23.

The venues, home to the three IPL franchises — Royal Challengers Bangalore, Delhi Daredevils and Deccan Chargers — who have qualified to compete in the 12-team competition, will host 23 matches over the 16-day tournament.

The teams, initially divided into four groups of three, will play their respective group opponents in the first round of matches.

Two teams from each group will qualify for the second stage and after another consolidated round-robin phase, the top four teams from the second stage will progress to the semifinals. The final will be held on October 23.