Twelve teams will contest the inaugural edition of the Champions League [ Images ] Twenty20 [ Images ], to be held in India [ Images ] from October 8 to 23.

Royal Challengers [ Images ] Bangalore and Deccan Chargers [ Images ], the finalists in the second edition of the IPL, and Delhi Daredevils [ Images ], the top team of the league stage, will compete against the top two domestic T20 teams from South Africa [ Images ], England [ Images ], Australia [ Images ] and the domestic T20 champions from New Zealand [ Images ], West Indies [ Images ] and Sri Lanka [ Images ].

The teams will be divided into four groups of three each and initially play each other on a league basis. The top two teams from each group qualify for the second stage and four teams from the second stage make it to the semi-finals.

The tournament will witness 23 matches.

Victoria and New South Wales will represent Australia, while the Cobras and Eagles will represent South Africa.

The tournament carries a prize pool of US $6 million.

 An initiative of three founding members -- the Board of Control for Cricket in India, Cricket Australia and Cricket South Africa -- the Champions League Twenty20 is a platform where the best-of-the-best in domestic club cricket in the world will get the opportunity to pit their cricketing skills against each other.

ESPN-STAR Sports hold the commercial rights for the tournament for 10 years.