Owners of Mumbai Indians, Delhi Capitals, RCB win bids to own Women’s Premier League teams

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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.

The auction, held in Mumbai earlier today, where the winners were identified after opening sealed bids, fetched the BCCI a record sum of INR 4669.99 crore (USD 572.78 million approx). 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).

Arun Dhumal, the chairman of the IPL, said that finalising the schedule and itinerary for the first season of the WPL was “a work in progress”. A player auction is also to be held, details of which are yet to be released.

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.

A total of 16 entities took part in the franchise auction on Wednesday after 17 entities were understood to have submitted their bids.

This article was originally published by Espncricinfo.com. Read the original article here.

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