There had been murmurs of the lack of a title sponsor and a television broadcast deal being major stumbling blocks for the T20 cricket's latest product to get underway.
Interim CSA CEO Thabang Moroe says they discussed taking such a drastic decision with the franchise owners and that a re-assessment of their strategy dictated that postponing the competition is the best option.
"The Durban Qalandars would like to pledge its commitment to the league and would like to reiterate that we will be back in South Africa for the start next year", said franchise owner Fawad Rana.
The inaugural T20 Global League was set to begin next month with England's Eoin Morgan, Jason Roy and Kevin Pietersen among the "marquee" internationals.
Last Friday, Moroe had insisted that the tournament would go ahead as planned.
"If you have a look at where we are in terms of the budgets we had allocated in running the league, if you look at the numbers put in front of us for sponsorship and broadcast deals, we were going to make losses of between $6-$8 million every year for the next five years". "This league will be delivered", he asserted.
South African Cricketers Association (SACA) has called for an independent review in the wake of the announcement.
Thabang Moroe took over from Haroon Lorgat, who parted ways with CSA on September 28, after his relationship with the organisation reached breaking point. However, after lots of questions arose about the tournament, pressure mounted on the former CEO.
Tony Irish, chief executive of the South African Cricketers' Association, said the postponement would have "a very significant impact" on 144 local and overseas players who had signed contracts or been drafted to play in the eight-team league.
The CSA had reserved six weeks in the peak of summer, but this postponement means that there will be no domestic or global action for that period.