The owners include film actor and producer Shah Rukh Khan, who also has a stake in the Indian Premier League side Kolkata Knight Riders, and the GMR Group, who own the Delhi Daredevils.
The competition, hoping to emulate the success of competitions such as the IPL and Australia's Big Bash, is set to start in November, with the final to be played on Dec. 16.
"We are certain that our final eight owners have the perfect combination of strategic insight and passion needed to make the first T20 Global League a complete success,” said Cricket South Africa president Chris Nenzani said.
Teams will be hosted in eight centres around South Africa – Cape Town, Durban, Johannesburg, Pretoria, Bloemfontein, Port Elizabeth, Stellenbosch and Benoni.
Marquee players already signed up include former England batsman Kevin Pietersen, current England limited overs players Eoin Morgan and Jason Roy, and ex-internationals Brendon McCullum (New Zealand) and Chris Gayle (West Indies).
Almost 400 players from 10 countries have confirmed their interest in being part of the draft.
(Reporting by Nick Said; Editing by Alison Williams)
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