Prospective franchises other than existing IPL owners may have to bid big on Wednesday, which could boost team valuation of the upcoming league
A total of 17 interested parties have expressed interest to participate in the franchise ownership auction on Wednesday for the upcoming five-team women’s IPL (WIPL) that will kick off, this March. They need to have a net worth of over ₹1000 crore to qualify.
As many as seven IPL teams – Mumbai Indians, Delhi Capitals, Royal Challengers Bangalore, Sunrisers Hyderabad, Kolkata Knight Riders, Rajasthan Royals and Punjab Kings are known to have submitted technical bids (meet eligibility criteria) on Monday.
The newest IPL teams – Gujarat Titans and Lucknow Super Giants who entered the league by paying big money in 2021, did not want too much on their plate for now and stayed away. Surprisingly, Chennai Super Kings, who also own a team in the ongoing T20 league in South Africa, did not submit a technical bid. Non-IPL companies that have expressed interest include Adani Group, Torrent Pharma and Capri Global. They all narrowly missed the bus during the final team extension of the IPL.
WIPL’s economy is very different, with media rights costing him £9.51 billion over five years. This equates to his 2% of the value of his IPL rights as a man. Nonetheless, in the context of women’s cricket, the figure is a breakthrough (Rs 70.9 crore per match) and stakeholders are keen to see how this figure will contribute to the long-term success of the league. I’m excited to see if it helps.
The media rights money gives the franchisee a revenue share of around Rs 30 crore over her ten years. This will help offset the franchise costs paid to BCCI. The higher the bid, the longer it will take to break even. If most of those who showed early interest were also making financial bids, there could be some overbids.
In its bidding documents, BCCI made it clear that it was not obliged to admit the highest bidder to join the team, but was watching out for the bidder’s growth commitments to women’s cricket. If you are outside the IPL ecosystem, you may need to bid higher. “We are open to anyone who meets the eligibility criteria to apply, but if an existing franchise wants to join our thinking in making the league a success, we will be very happy,” said the IPL last week. Chairman Arun Dumar said.
Given the league’s long-term potential, corporate social responsibility, and the opportunity for his existing IPL team to expand his cricketing calendar by competing further with Indian cricketers, he is expected to earn from 2500 in five teams. Between 3500 kroner, it should come as no surprise to anyone.