Ahead of the inaugural tournament's player auction, The Cricketer runs through all the details you need
It is South Africa's latest attempt at organising a T20 competition, due to begin in January. The teams will play each other home and way, though the fixture schedule is yet to be released.
The six teams involved in the inaugural edition are MI Cape Town, Durban Super Giants, Johannesburg Super Kings, Paarl Royals, Pretoria Capitals and Sunrisers Eastern Cape.
The auction takes place on September 19 in the Cape Town International Convention Centre, with coverage beginning from 2pm (South African Standard Time), which is 1pm (BST).
In total, 533 players put themselves forward for consideration, but only 318 of those – from 14 countries – are due to go under the hammer. Among the high-profile names involved are Eoin Morgan, Jason Roy and Adil Rashid.
Also on the longlist are 248 South Africans, including Test captain Dean Elgar and left-arm wrist-spinner Tabraiz Shamsi.
Yes. Each team has already picked up between two and five players from a pool of marquee options. Each franchise has $2million to spend on a squad that can feature as many as 17 players.
MI Cape Town: Kagiso Rabada, Dewald Brevis, Rashid Khan, Liam Livingstone, Sam Curran
Paarl Royals: Jos Buttler, David Miller, Corbin Bosch, Obed McCoy
Durban Super Giants: Quinton de Kock, Prenelan Subrayen, Jason Holder, Kyle Mayers, Reece Topley
Pretoria Capitals: Anrich Nortje, Migael Pretorius
Johannesburg Super Kings: Faf du Plessis, Gerald Coetzee, Moeen Ali, Maheesh Theekshana, Romario Shepherd
Sunrisers Eastern Cape: Aiden Markram, Ottniel Baartman

Eoin Morgan has entered the auction (Ashley Allan/Getty Images)
Each squad can feature as many as seven overseas players and as many as 10 local players. As per the Indian Premier League, line-ups can include up to four overseas players.
The highest base price equates to approximately £88,000 – West Indies pair Odean Smith and Jayden Seales have both put themselves forward in that category.
Morgan, Rashid, Roy, Tymal Mills, David Willey, Jimmy Neesham and Chamika Karunaratne have all entered the auction at the next base price down, approximately £86,000.
Among the 52 players who have opted for the next base price down - £42,600 – are Craig Overton, Lewis Gregory, Carlos Brathwaite and Rassie van der Dussen.
The new tournament is live-streaming the auction on its YouTube channel.
In South Africa, the auction is being broadcast on SuperSport.