Chennai has been picked as the venue for the Champions League Twenty20 final on December 10. The domestic Twenty20 winners and runners-up from India, Australia and South Africa and Twenty20 champions from Pakistan and England will participate in the eight-day Champions League Twenty20 tournament, which is also to have venues in Bangalore and Chennai.

The eight teams will be divided in to groups of four and the leaders of Group A will meet the runners-up of Group B and vice versa in semi-finals.

The prize money up for grabs for the tournament is US$6 million, which is five times what the Rajasthan Royals got for winning the IPL earlier this year.