The Ahmedabad-based conglomerate has twice failed bids to acquire the IPL team. His WPL bid of 1,289 kroner turned out to be the highest.
Despite its status as one of the country’s leading corporate groups, Gautam’s Adani group has failed twice in the race to win his team in the blockbuster Indians Premier League (IPL). Did.
They left no chances in Wednesday’s bidding war for a concession in the Women’s Premier League (WPL). Their his 128.9 crore bid to acquire the Ahmedabad franchise was the winner. It was 30% higher than competitors Mumbai Indians, 42% higher than Capri Global and the lowest of the five successful bidders.
Some believe this is excessive spending for a league that has not yet started and where women’s cricket is still on the cusp of commercial growth. In Adani’s case, they probably don’t care about headlines.
“As the top bidder, I don’t know if I’ll be happy. All I had to do was go out there and set the right price and get the location I wanted. We achieved that.” We didn’t expect to walk away as the highest bidder. It finally happened. ”
Adani’s first chance to participate in his IPL came two years after Reliance made his top bid to win the Indians in Mumbai before his IPL start in 2008. From eight teams he emerged in 2010 where he expanded to ten teams. They were auctioned off by a wide margin to Sahara and a consortium of companies that acquired the Kochi franchise.
Businessman Sanjib his Goenka and his CVC Capital his Partners won franchises in Lucknow and Ahmedabad respectively when BCCI re-invited bidders for his two new teams in 2021.
Adani Group generally recommends choosing a team or joining an IPL team when the next opportunity arises. For now, we will focus on building a successful franchise for women. The Group’s sports arm, Adanis Sportsline, also owns teams in the Koko League, Pro Kabaddi League and the ongoing UAE Franchise League (ILT20).
But when it comes to Indian cricket, this is a first for them.
“Obviously, cricket is big in India, and if you’re into the sport, you want to be a part of it,” he says Trivedi. “At the same time, this is the perfect time for big companies like ours to get involved in women’s sport. increase. This was the perfect opportunity. This investment will help bring commercial opportunities to women’s sports, not only in athletes but also in franchise sports. This would encourage the inclusion of women in other sports and leagues. ”
Adani will recoup £129m a year from her WPL investment, which is tough in the new league. One is optimistic about WPL’s long-term profitability as an independent company. “I am 100% sure,” said Trivedi. “This property has huge potential. No one disputes that it will become the biggest women’s sport in the world and the second largest cricket league in the world after the men’s IPL.
“It’s all about how you look at it. Some may have lowered their bids, but we see great potential. This will definitely be an investment in the first media rights cycle. But the next media rights cycle will be interesting.”
The IPL’s exponential growth in value is also attributed to his media rights increasing every five years. “We had the math in mind and bid accordingly,” he said. Adani Group is based in Ahmedabad, so the choice of headquarters should come as no surprise. With BCCI ready to introduce a home-away format to his WPL, it adds the allure of playing matches in the world’s largest cricket stadium. “Gujarat cricket is crazy.People love cricket.Our headquarters is in Ahmedabad. So there’s nothing better than what’s out there,’ he said.
Trivedi downplayed the prospects of two business rivals, Adani and Ambani, who manage rival teams in the league and have the highest bids.
“In our case, he was 30 in the bid and the group [bidders] was 16 of him. All 16 were competitors. We saw the vision of the league and I believed in that possibility.”