CANBERRA, AUSTRALIA - DECEMBER 21: Jason Sangha of the Thunder celebrates with Daniel Sams of the Thunder after scoring his half century during the Sydney Thunder v Melbourne Stars Big Bash League Match at Manuka Oval on December 21, 2018 in Canberra, Australia. (Photo by Brett Hemmings/Getty Images)

The first of the Big Bash's five finals matches is set to commence on Friday, with the top five placed sides set to battle it out for the BBL|11 title.

An Eliminator, Qualifier, Knockout, Challenger and Final construct the BBL post-season, spanning across seven days. So how does the Big Bash finals format work?

At the end of the regular season, the bottom three finishing sides automatically fail to qualify for a finals placing, with the top five ranked teams moving onto the next stage of the season.

With the Renegades, Heat and Stars eliminated, the Scorchers, Sixers, Thunder, Strikers and Hurricanes have progressed.

Beginning with the Eliminator (Friday, January 21), the sides that finished fourth (the Scorchers) and fifth (Hurricanes) will clash in a 'win or go home' match, with the loser eliminated and the winner proceeding to the Knockout.

The Knockout (Sunday, January 23) will see the third-placed side (the Sydney Thunder) clash with the winner of the Eliminator, with the loser of the Knockout eliminated from the running and the winner progressing.

Prior to the Knockout, the Qualifier (Saturday, January 22) between the top two sides (the Scorchers and Sixers) will take place, with the winner moving straight into the Final.

The loser of the Qualifier will then face the winner of the Knockout in the second last final of the series, the Challenger (Wednesday, January 26).

The Challenger will then decide which club will join the winner of the Qualifier in the BBL Final (Friday, January 28), with the victor moving onto the deciding match while the loser will be eliminated.

The Final will be hosted by the side that won the Qualifier, with all other finals to be hosted by the highest-seeded side.

The winner of the final will be awarded $600,000 in prize money, with the champion players being handed $450,000.

*Due to ongoing border restrictions, the Eliminator, Qualifier and Knockout matches have been confirmed to be held in Victoria