More than 30 companies have expressed an interest in purchasing WIPL clubs.
- Some of the almost 30 companies who have taken the Invitation To Tender (ITT) document to become potential bidders for a Women’s Indian Premier League (WIPL) club are relative novices to the world of sports leagues. Companies including APL Apollo and the snack and sweets manufacturing conglomerate Haldiram have expressed interest, as have the Chennai-based Shriram Group, the Nilgiri Group, and the AW Katkuri Group.
- As a disclaimer, it should be noted that the WIPL appears to have inspired the Indian corporates, though not all of those who have purchased the ITT would necessarily bid. The requirement of a net worth of Rs 1000 crores for an aspirant to bid for a WIPL team may explain why more people haven’t taken interest and why Bollywood celebs haven’t shown up to play.
- A few cement manufacturers, including Chettinad Cement and JK Cement, have expressed interest in acquiring cricket franchises, and should they be successful, they will join India Cements (of CSK) in fielding professional cricket teams. Not only the IPL, but also the ILT20’s Capri Global (of the Sharjah Warriors) and Adani Group (of the Gulf Giants) have purchased the ITT for their respective cricket clubs.
The auction for the WIPL teams will take place in Mumbai on January 25. All IPL clubs have taken the ITT and are anticipated to compete for ownership. The idea that both the GMR Group and the JSW Group, who own the Delhi Capitals, might compete in the WIPL is an intriguing aspect of the IPL connection. One member of each group, plus the Delhi Capitals collectively, has taken the ITT. Within the following 24 hours, the sale of ITT will be finalised.
- The BCCI has also provided an estimate of WIPL costs and revenues. The income statement estimates that the BCCI could receive up to Rs 125 crores in the first year from the sale of media rights. The source generates an annual revenue of Rs 162.15 crores in succeeding years. Media rights were purchased by Viacom 18 for Rs 950 crores over a five-year period, which works out to Rs 7.09 crores per game.
- Accordingly, the first place team will receive Rs 28.08 crores (on an 80:20 ratio) of the total revenue, while the second place team will receive Rs 27.20 crores, the third place team will receive Rs 26.33 crores, the fourth place team will receive Rs 25.45 crores, and the fifth place team will receive Rs 24.57 crores. Central sponsorship income of Rs 77 crores, the details of which have not yet been announced by the BCCI, are included in this allocation. In the following four years, the proportion of earnings allocated to each party will rise.
- It has been widely reported on Cricbuzz that the pay cap will start at Rs 12 crore in the first year and increase by Rs 1.5 crores each year for the next four years, reaching Rs 18 crores in 2027, the final year of the current five-year media rights cycle. In its inaugural season, the league will almost certainly be held in Mumbai from March 4th to 26th. Five international players, including at least one from an Associate country, will be permitted in the WIPL’s starting XI.