The tournament had been facing multiple logistical challenges, including the inability to secure a broadcast deal or a title sponsor, which is resulting in hefty financial losses.
Last week, acting CSA CEO Thabang Moroe had said that the board is preparing for a net loss of US $25 million (approx Rs. 342.58 million) from the inaugural edition of the tournament, an amount that accounts for more than half its current cash reserves, reports ESPNcricinfo.
"We have not come to this decision lightly," commented Moroe.
"Having discussed it with all our stakeholders including the franchise owners, we believe that the interest of the league should be our first priority. We have re-assessed our strategy and believe that postponing the first edition of the T20 Global League to next year will serve us well," he added.
The T20 Global League is an international T20 cricket league based in South Africa that was supposed to make its debut in the last quarter of 2017 with eight participating teams, consisting of local and international cricket players. (ANI)