I think Sri Lanka is trying to raise some money with the help of some organizations and asking for help through this cricket league but I don't know how practical this is going to be. People are not going to think about cricket when they simply don't have any food to eat. The country is already in a very bad economical situation and if this fails it is going to be a lot worse. And under this situation, I don't know even if they will be able to afford to have big names in the league because they will have to pay them a good amount of money.
Do we need a dozen different franchise leagues? Even countries such as UAE and Canada have tried to set up franchise leagues. It is going to be difficult, because there is only a limited pool of players available. Let's analyze various leagues that exists as of now:
1. IPL (India)
2. BBL (Australia)
3. 100 (England)
4. MSL (South Africa)
5. PSL (Pakistan)
6. BPL (Bangladesh)
7. LPL (Sri Lanka)
8. Everest Premier League (Nepal)
9. UAE T20 League (UAE)
10. T20 Blast (England)
11. Euro T20 Slam (Ireland/Scotland/Netherlands - cancelled)
12. Global T20 Canada
13. Major League Cricket (USA)
14. Hong Kong T20 Blitz
15. Abu Dhabi T20 Trophy
At the most, I believe that there exists market for 5-6 leagues. Apart from these, most of the other leagues are going to end up as loss making ventures.