Women’s IPL teams auction: Jay Shah, the secretary of the BCCI, has stated that the winning bids were Rs. 4,669.99 crore (USD 572.78 million approx). 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 teams will be headquartered in Mumbai, Delhi, Bengaluru, Ahmedabad, and Lucknow, respectively, and the competition will be called as the Women’s Premier League (WPL).The winners were identified after opening sealed bids.
January 2023 Current Affairs Quiz
- 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).
Business Model of this WIPL
The sale of the women’s IPL media rights, which Viacom 18 purchased for INR 951 crore (about USD 116.7 million) for a five-year period between 2023 and 2027, brought in a sizable profit for the BCCI recently. 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.