Channel Ten is confident it will be able to fulfil the final year of its deal to broadcast the Big Bash League and could yet remain in the frame to retain rights to the popular tournament.
The network went into voluntary administration after its billionaire shareholders said they would no longer guarantee a key loan, putting the company at risk of insolvency. Ten has appointed KordaMentha as its voluntary administrator.
Ten's dire financial position has raised questions as to whether it would complete the final season of its $100 million five-year deal to cover Cricket Australia's domestic Twenty20 tournament, which has been a ratings success despite losing money for the game's governing body.
The turmoil at Ten has potentially serious implications for CA, which is set to go to market for international and domestic rights within a couple of months.
An administrator may not believe it to be prudent for the network to bid a large sum, possibly as much as $60 million a year, to retain the rights though it would also not want to diminish Ten's value for a future owner. Should Ten not enter the process, that could leave Nine as a sole bidder for the next deal starting in 2018.
CA is also locked in a bitter dispute with players over a new pay deal, with the current agreement due to expire on June 30.
The BBL has emerged as one of Ten's most successful assets since it acquired the rights ahead of the 2013-14 season.
Those connected to the tournament on Wednesday expressed confidence it would be business as usual this summer, pointing out the network can ill afford to lose the BBL. Match day coverage would not be expected to be diminished.
"Customers, employees and other stakeholders are assured that the administrators intend to keep the business running. Viewers can expect the same content they currently enjoy on Network Ten," KordaMentha said.
If the network were to close its doors, it's understood CA has a provision to award the rights to another network.
The BBL regularly averages more than 1 million viewers a night and even out-rated Channel Seven's coverage of the Australian Open.
It's understood Ten also remains confident it would have the cashflow to bid for the next round of broadcast rights. Ten's financial issues now mean Foxtel is likely to partner it in any bid.
CA want the majority of BBL matches to remain on free-to-air television, wary of the troubles the sport has encountered in England since it moved to pay TV.
Channel Nine has already made it clear it wants to secure both international and domestic rights, meaning it could potentially broadcast live cricket day and night during the holiday period.
While the value of the next BBL deal had been speculated at $60 million a season, one insider believes the recent developments could mean CA will be lucky to get $40 million.
But others have questioned how any figure can be reached with so much uncertainty in the market.
The BBL has increased its number of games next season from 32 to 40 but there are no plans to expand from its current eight-team competition. The structure of the home international fixture, which is determined from season to season, is also another unknown.
The Women's BBL, which started in 2015, is also seen as a growing asset.
CA and the players' union, the Australian Cricketers Association, are expected to resume talks this week over a new memorandum of understanding.
Should no deal be struck by June 30, players selected for the Australia A tour of South Africa next month may have to go on tour-by-tour contracts.
Players say they want progress in discussions this month before they would consider such an offer.
Meanwhile, Football Federation Australia still intends to begin its broadcast of the A-League on Channel Ten next season despite the news of the network entering voluntary administration.
Through its primary broadcaster, Fox Sports, the FFA is set to enter a two-year partnership with Network Ten for next season's competition which begins in October. As part of the deal with Fox Sports, the main game each week will be televised live on a free-to-air network each Saturday night while all other games will be live and exclusive to the pay TV provider.
Wednesday's announcement cast doubt over the future of the network and it is understood that if it is unable to broadcast the competition in October, the FFA may begin to look at alternatives for the FTA component of the A-League coverage.
"FFA will monitor the situation closely regarding Network Ten and continue to work closely with its broadcast partners," an FFA spokesman said.
"Football Federation Australia's agreement with its primary broadcast partner, Fox Sports, include a requirement for some matches to be shown on a commercial free-to-air television network without specifying which network will be used. As recently announced, those matches will be shown on Network Ten for the 2017-18 Hyundai A-League season and that is still the intention."