This was one of the scenarios discussed when the proposal for the Champions League Twenty20 first came up. South Africa's dashing batsman, Herschelle Gibbs, was forced to choose between his home team, the Cape Cobras, or his IPL team, the Hyderabad Deccan Chargers, and Gibbs chose the Chargers.

Gibbs has decided that he will play for the Deccan Chargers who have made it to the league by winning the IPL 2 in South Africa. The Cape Cobras, on the other hand, beat the Diamond Blues in South Africa's domestic competition and while the Blues will also feature in the Champions League T20, the Cobras will be without Gibbs.
Gibbs has decided to represent his IPL team which means that the Cobras will now be compensated for the loss while the Hyderabad Deccan Chargers will have an explosive option.
Champions League Twenty20 Schedule
Lewis Hamilton Tries Out For Cricket in India!
Strauss Wants more ECB Stringency for IPL
IPL 2 Parade: Carnival in Pictures
IPL 2 Game 16: Gibbs Powers Chargers to Win over Super Kings
IPL 2 Points Tally After Game 24
IPL 2 Game 40: Royals No Match for Chargers