Nearly all 10 Indian Premier League (IPL) franchise team owners will apply for franchises in the upcoming Women’s IPL (WIPL) to further promote their brands, according to IPL team and cricket commission officials. I am seriously considering it.
However, they said a final decision will be made after January 12, when the proposed league’s media rights will be auctioned, to better understand the economics of the deal.
Indian Cricket Control Board (BCCI) officials confirm that all 10 team owners have purchased bidding documents or have submitted official requests to purchase bidding documents for WIPL teams Did.
Last week, the board submitted a bid to acquire the rights to own and operate her WIPL team. The final purchase date for her bidding documents is January 21st and the bidding is scheduled for her on January 25th. BCCI did not specify a reserve price for the auction.
“There is a strong interest in the women’s IPL,” said a BCCI official, who requested anonymity. “We don’t have a base price as we only have a limited team of 5 to start with, but by our calculations there are 12-15 serious bidders, but the bid could surprise everyone. Additionally, the rights to the media should have been sold by then, giving those interested the opportunity to make the calculations.
In her first three seasons at the WIPL, she will have 22 games with five teams. BCCI plans to add another team from Season 4, bringing the total number of games to 33 or 34. Vinit Karnik, head of sports, entertainment and esports at GroupM South Asia, said IPL’s five new women’s franchises are a logical brand extension for existing IPL team owners, and a logical extension for others. Because it is possible, we believe there could be significant interest from bidders. It will be the entry point to the IPL club.
“Furthermore, I can count five other main reasons for this excitement. First, as a league and format, the IPL is well established and very successful. By making the announcement, BCCI very clearly demonstrated its interest and seriousness in making women’s cricket bigger and better,” said Karnik. “Thirdly, we saw some of the women’s T20 small relays on the sidelines of the IPL. is growing faster than we think. We also need to remember that Diversity, Equity and Inclusion (DE&I) is a key area for companies around the world. DE&I awareness and programs are taken very seriously and for good reason. WIPL could have many benefits in this regard. Finally, WIPL has great potential to expand its advertiser base into several brand categories that may not be using cricket as often and effectively. ”
Interested, but team owners are also wary. Manoj Badale, the main owner of the Rajasthan Royals, said his company is definitely aiming to secure a franchise within the women’s IPL. “However, our offer is a rational investment decision based on the valuation of the expected economics of the tournament. Whether or not we acquire the franchise, our commitment to women’s football is clear.”
Bader added that the WIPL is a great step forward and a very exciting time for everyone involved in women’s cricket in India. “This tournament will not only raise the profile of women’s cricket, but also contribute to the development of women’s sport in the country. is excited to witness this development.”
Several franchises such as Kolkata Knight Riders and Rajasthan Royals support women’s cricket through various schemes. KKR owns the women’s team in the international league, while the Rajasthan Royals run a grassroots cricket program with Royal Sparks, organize the Royals School Girls’ Cup and the RR Women’s Cup, and run unisex coaching courses at the academy. offers.
One of the team’s owners said, “It would be a tragedy if a good IPL franchise didn’t get a team because the business didn’t make sense.” We haven’t seen it, but if it makes commercial sense for us, we’re definitely interested. We’re in business and we want to support women’s cricket, but we’re going to sit back and watch.”
It goes without saying that, like an IPL, the franchisee will not be profitable in the first few years.
On the cost side, the team will have to pay her first ten years of franchise fees. Player purses are expected to be around £12m to £15m in the early years, while administration and other operating costs are expected to be a further £10m to £15m.
Revenue-wise, BCCI shares his 80% of the core revenue pool (revenue from media rights and core sponsorships) with his five teams. Teams can also earn from sponsorships and gate revenue (ticket sales). However, the two franchise owners said entry fees for women’s cricket are not expensive and the league will be held shortly after the women’s T20 World Cup, scheduled for 10-26 February, enough to sell sponsors. Pointing out that time is running out.
“The acquisition of the franchise will be at the end of January when the team and brand have been established and the players will participate in the World Cup. We’re going to start. We don’t have enough time,” said an executive on condition of anonymity.
The reason she sees women’s cricket from an advertising perspective is because she couldn’t advertise. The unidentified franchise owner quoted above said BCCI hopes the media rights will be a godsend, but it’s unlikely to be a large sum.
“We all know that the highest rated women’s T20 match is currently generating around £2m in advertising revenue. Even if they decide to pay £7.5m per game, they will have to pay back more than £7.5m.The team will receive around £30m from BCCI,” he said. On the financial side, BCCI officials said it was a rush, with the team’s owners now making more than $400 million in profit from the men’s IPL. “It’s nothing compared to the value they create,” he said.