Women’s IPL teams auction
BCCI secretary Jay Shah has confirmed that the total bids received from the winners were worth Rs 4,669.99 crore (USD 572.78 million approx). The owners of 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 at the auction ahead of the inaugural edition to be played in March this 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.
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The winners were identified after opening sealed bids
- The Ahmedabad team was sold for the highest price: INR 1289 crore (USD 158 million approx), followed by
- Mumbai (INR 912.99 crore/USD 111 million approx),
- Bengaluru (INR 901 crore/USD 110 million approx),
- Delhi (INR 810 crore/USD 99.35 million approx) and
- Lucknow (INR 757 crore/USD 92.85 million approx).
Business Model of this WIPL
The BCCI recently earned a big sum from the sale of the women’s IPL media rights, which were bagged by Viacom 18 for INR 951 crore (USD 116.7 million approx.) for a five-year period between 2023 and 2027. Under the revenue-sharing model, the women’s IPL will distribute 80% of the media rights money to the five franchises in the first five years. This is significant – as was seen in the men’s IPL – in offsetting a major part of the franchises’ operational costs.