WIPL auction: BCCI expects to earn Rs 4000 crore
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An industry insider who has worked with the auction of men’s IPL teams in the past told PTI ahead of the auction, “WIPL has a lot of potential. Some bids may go up to Rs 500 crore or more.
New Delhi. The Indian Cricket Board (BCCI) is expected to earn at least Rs 4,000 crore from the five-team auction of the Women’s IPL (WIPL) to be held on Wednesday as top business houses bid for it. According to market experts, each team is expected to be sold for Rs 500 to 600 crores in the closed bid auction of the teams. An industry insider who has worked with the auction of men’s IPL teams in the past told PTI ahead of the auction, “WIPL has a lot of potential. Some bids may go up to Rs 500 crore or more.
The chances of getting a bid of more than 800 crores are less but BCCI will not complain. More than 30 companies have bought bid documents for Rs 5 crore to buy WIPL teams. These include 10 companies that own the men’s IPL teams. Adani Group, Torrent Group, Haldiram Prabhuji, Capri Global, Kotak and Aditya Birla Group have also shown interest in buying the teams. These also include companies that failed to buy two new men’s IPL teams in 2021.
Among the IPL teams, Mumbai Indians, Rajasthan Royals, Delhi Capitals and Kolkata Knight Riders can show more interest in buying the team. He has also bought teams globally. According to market experts, business houses make their bids to buy a team on two principles. The first of these is return on investment (ROI), which is the fundamental principle of any business. The second is not a business principle, but the business community considers it to be associated with ego. “Let’s say a franchise makes a successful bid of Rs 500 crore for five years, then here it will be Rs 100 crore per year,” said a former official of an IPL franchise involved in the bid.
Regarding the sources of income of the franchise, he said, “BCCI distributes the revenue of its media broadcast rights which is the main source of earning. The second is the share for the purpose of BCCI. The third franchise earns from its own sponsorship and the fourth is from gate sales and ticket sales. The five-team women’s IPL will be played in Mumbai in March.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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