ESS Managing Director Manu Sawhney and League Chairman Lalit Modi unveiled the logo of the Champions League T20.

The league, scheduled to be held from December 3 to 10, will be played at Chennai, Bangalore and Mumbai, Modi announced at the press conference on Thursday in Mumbai.

He said there had been talk about the matches being held in Mohali, Jaipur and Delhi earlier but they had been changed keeping in mind the weather conditions that will prevail in northern India during the month of December.

"Most of the games will be night games and the peculiarities of the weather and the dew factor will come into play and therefore, this was kept in mind while selecting the venue," he said, adding that the final fixtures will be announced soon.

"There will be 15 matches and the final will be held in Mumbai," he said.

Asked in which stadium the finals will be held as there was supposed to be I-League matches at the DY Patil Stadium in Mumbai - that hosted the IPL final as well - during that time, Modi said the match could be hosted in the Cricket Club of India. "We will take a decision on that soon."

Speaking about the Tournament that will be shown on the ESPN network, ESS Managing Director Manu Sawhney said, "We are now the biggest investor and stakeholder of international cricket on television and Champions League Twenty20 is a world championship of club cricket."

Sawhney added that Asia's No. 1 broadcaster was "committed to work along with the BCCI, Cricket Australia and Cricket South Africa to make Champions League Twenty20 a marquee event in the annual calendar of international cricket."

Modi said the Champions League had been a dream come true for him.

"It was always part and parcel of IPL. It is the best of the best; IPL has been a feeder league which will culminate into the Champions League.

You will see similar feeder leagues all over the world and nothing can be better than be crowned champions of champions."

He also praised ESPN STAR Sports for picking up the commercial rights and said that "ESPN is the platinum standard in sports broadcasting.

"The price (ESPN paid for the rights) helps us Boards to fund such initiatives. It started with the BCCI, Cricket Australia and Cricket South Africa, but it embraces all," Modi noted.

The League Chairman said only eight teams could make it to the Tournament this time "because of paucity of time" and that from the second year "12 teams will contest for the prize".

"The prize pool for this year is USD six million and the winners will get USD three million," he added.

Eight teams, including the reigning winners and runners-up from the domestic Twenty20 competitions in India (Rajasthan Royals and Chennai Super Kings), Australia (Western Australia Warriors and Victoria Bushrangers) and South Africa (Titans and Dolphins), plus the reigning Twenty20 champions from Pakistan (the tournament is being held from October 4) and England Twenty20 Cup winners Middlesex will contest in 15 matches in the week-long tournament.