The tournament starts at the redeveloped Adelaide Oval with the Strikers hosting the Melbourne Stars on December 18, and a week of matches will lead up to Christmas.
The semi-finals are set for the weekend of January 24-25, with the final to be played on Wednesday, January 28.
SYDNEY THUNDER
INS
Pat Cummins (Scorchers), Aiden Blizzard (Hurricanes), Nathan Hauritz (Heat), Jacques Kallis (South Africa)
OUTS
Luke Feldman (Stars), Jason Floros, Chris Woakes, Tillekaratne Dilshan, Ajantha Mendis, David Warner, Michael Clarke, Scott Coyte, Luke Doran
LAST SUMMER
The Thunder have been the big disappointment throughout the infancy of the BBL, finishing last in its first three seasons.
However they were a much more competitive side under the stewardship of Mike Hussey last year.
PREDICTION
Jacques Kallis will add some much needed swagger to the Thunder this year and expect Pat Cummins to have his best campaign yet.
In another boost, England skipper Eoin Morgan, who averaged just over 29 last summer, will play four matches for the Thunder before jetting off for England duty ahead of the World Cup.
Don't be surprised if the Homebush team makes a charge at the finals. 
Pat Cummins is injury-free and shapes as an important bowler for his new team Sydney Thunder. Photo: Getty
ADELAIDE STRIKERS
INS
Brad Hodge (Stars), Ben Laughlin (Hurricanes), Craig Simmons (Scorchers)
OUTS
Callum Ferguson (Renegades), Phillip Hughes (deceased)
LAST SUMMER
Darren Berry's squad managed just two wins - against bottom team Sydney Thunder in the opening match and then Perth Scorchers in Round 6.
PREDICTION
In Hodge and Laughlin, the Strikers have recruited both a top shelf batsman and bowler. Kieron Pollard returns as the marquee player and Craig Simmons adds another gun batsman to the squad. The pace bowling depth is also strong, with Kane Richardson Chadd Sayers and Gary Putland also among the ranks.
If Hodge can peel off another brilliant season, then anything is possible for the Strikers. 
Ben Laughlin, one of the best death bowlers in the BBL, has crossed from Hobart Hurricanes to Adelaide Strikers. Photo: Getty
MELBOURNE RENEGADES
INS
Matthew Wade (Stars), Callum Ferguson (Strikers), Jesse Ryder (New Zealand), Tom Beaton (Western Australia), Nick Winter (South Australia)
OUTS
Alex Hales (Hurricanes), Muttiah Muralitharan (retired), Michael Hill, Will Sheridan, Dan Harris
LAST SUMMER
BBL | 03 did not quite go to plan for the boys in red, who finished sixth with three wins and five losses. They did not produce their best cricket until it was too late to make a charge at the finals.
PREDICTION
On paper, the Renegades have assembled a deep and talented squad. Winning close games is an area they must improve this summer. But with Aaron Finch leading the charge, and the explosive yet enigmatic Jesse Ryder in the line up, the sky is the limit for the Renegades.
BRISBANE HEAT
INS
Andrew Flintoff (England), Samuel Badree (West Indies), Ryan Duffield (Scorchers), Nathan Reardon (Renegades), James Peirson (Queensland Bulls)
OUTS
Nathan Hauritz (Thunder), Chris Hartley, Craig Kieswetter, Chris Sabburg, Luke Pomersbach, Ryan Harris (supplementary list)
LAST SUMMER
Had an overall record of three wins and five losses. Finished fifth, missing out on the finals.
PREDICTION
Andrew Flintoff is stealing the headlines but it is West Indies leg-spinner Samuel Badree who holds the key to Brisbane's title hopes.
Badree is officially the No.1 T20 bowler in the world. He found himself on Heat's radar following his appearance in last year's Champions League Twenty20 for his native Trinidad and Tobago.
He was a member of the Chennai Super Kings who earlier this month won the CLT20 in India, though he failed to play a single game.
HOBART HURRICANES
INS
Alex Hales (Renegades), Darren Sammy (West Indies), Dom Michael (Heat), Jake Reed (Victoria).
Ben Laughlin (Strikers), Doug Bollinger (Sixers), Aiden Blizzard (Thunder), Shoaib Malik, Dimitri Mascarenhas, Owais Shah
LAST SUMMER
Highlight of the season was the semi-final upset win over Melbourne Stars at the MCG - when Tim Paine topscored after being made public enemy No.1 by Eddie McGuire.
Hobart finished fourth and lost the grand final against the Scorchers in Perth.
However Ben Dunk was named the Man of the Tournament while another Hurricane Jonathan Wells from the same team was named the Young Gun of the Tournament.
PREDICTION
Hobart have lost some excellent T20 bowlers. Darren Sammy is a boom signing but the Hurricanes will have to unearth some surprise new talent to go one better this summer.
PERTH SCORCHERS
INS
Michael Klinger (Strikers), Andrew Tye (Thunder), James Muirhead (Stars)
*Squad to be finalised December 8
OUTS
Craig Simmons (Scorchers), Pat Cummins (Thunder), Simon Katich (retired), Michael Beer (Stars)
LAST SUMMER
After finishing third on the table, the Scorchers beat the Hobart Hurricanes in a home grand final by 39 runs.
Craig Simmons' breakout summer included two BBL centuries and helped the stocky batsman go from powerline worker and fringe state cricketer to a major target for Perth's cashed-up rivals.
PREDICTION
Adelaide Strikers used their greater salary-cap room to land Simmons in a contract thought to be worth six figures over each of the next three seasons.
Simon Katich is a significant loss, however the loss of Simmons has been offset by the arrival of Michael Klinger from Adelaide and with match-winning bowlers Yasir Arafat and Bradd Hogg back on board, the Scorchers squad looks every bit as good as last summer.
SYDNEY SIXERS
INS
Doug Bollinger (Hurricanes), Nathan Hauritz (Heat)
OUTS
Mark Cosgrove, Ravi Bopara, Chris Tremlett
LAST SUMMER
The Sixers were stiff last campaign, going down to the Perth Scorchers by five runs in a rain-affected Big Semi Final at the SCG.
PREDICTION
The Sixers won a lot of close games in BBL|03, which – in any sport – is the sign of a really good side.
Deliver the goods when it matters and the Sixers are as good a chance as any team. 
Doug Bollinger is returning home to Sydney to play for the Sixers. Photo: Getty
MELBOURNE STARS
INS
Kevin Pietersen (England), Luke Feldman (Thunder), Michael Beer (Sixers)
OUTS
Brad Hodge (Strikers), Matthew Wade (Renegades), Lasith Malinga, James Muirhead (Scorchers)
LAST SUMMER
The Stars went undefeated in the group stage last season, but like in BBL | 02 and BBL | 01, choked in the semi-finals.
PREDICTION
The perennial tournament favourites are again the most backed team for the title. There'll be no shortage of motivation this summer and you'd expect them to be in the finals again. Swapping James Muirhead for another leg spinner in Michael Beer could prove to be an excellent trade. Melbourne-raised Beer performed strongly for the Scorchers last season and is an underated T20 player.