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Thursday, February 9, 2023

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Owners of Mumbai Indians, Delhi Capitals, RCB, Adani Group, Capri Global win bids to own Women’s Premier League teams

The owners of the men’s IPL teams Mumbai Indians, Delhi Capitals and Royal Challengers Bangalore, as well as the Adani Group and Capri Global, have won bids to own the five women’s IPL teams up for auction ahead of the inaugural edition to be played in March. year. The tournament will be known as the Women’s Premier League (WPL) and the teams will be based in Mumbai, Delhi, Bengaluru, Ahmedabad and Lucknow respectively.

The auction, held earlier today in Mumbai where the winners were identified after opening sealed bids, brought the BCCI a record amount of INR 4669.99 crore (approximately USD 572.78 million). The Ahmedabad team was sold for the highest price: INR 1289 crore (approx USD 158 million), followed by Mumbai (INR 912.99 crore / USD 111 million approx), Bengaluru (INR 901 crore / USD 110 million approx), Delhi (INR 810 crore/$99.35 million approx) and Lucknow (approximately INR 757 crore/$92.85 million).

Arun Dhumal, the chairman of the IPL, said finalizing the schedule and travel plan for the first season of the WPL was “a work in progress”. A player auction will also be held, details of which are yet to be released.

The BCCI has recently made a large amount of money from the sale of women’s IPL media rights, which were purchased by Viacom 18 for INR 951 crore (approximately USD 116.7 million) for a period of five years between 2023 and 2027. Under the revenue sharing model, the women’s IPL will distribute 80% of the media rights money among the five franchises in the first five years. This is significant – as seen with the men’s IPL – in offsetting much of the franchises’ operating costs.

A total of 16 entities participated in the franchise auction on Wednesday after 17 entities reportedly submitted their bids.

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