Big Boost to BCCI
WIPL 2023: CSK, PBKS, and RR all express interest in a Women’s IPL franchise, and BCCI provide LUCRATIVE 80% income share to WIPL clubs for the first five years:
BCCI promises WIPL teams a LUCRATIVE 80% income share for the first five years, and CSK, PBKS, and RR all indicate interest in acquiring a Women’s IPL franchise.
View the WIPL 2023 Teams and Women’s IPL 2023 Franchises.
Following successful sales of MEDIA RIGHTS, BCCI is prepared for another Mega payday on January 25. The ownership Women IPL Franchise tender documents were chosen by 30 companies.
All ten Indian Premier League teams are represented on the list. Gujarat Titans, Delhi Capitals, Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad, and Punjab Kings, the defending IPL winners, have all stated that they will be making bids for WIPL Teams.
Why is there such an interest in the WIPL 2023 Teams Auction?
- The TENDER Documents have already been chosen by 30 Companies.
- To obtain WIPL Franchises, all 10 IPL Teams are actively competing.
- Giving potential buyers confidence with the WIPL Media Rights Auction.
- The clubs will receive at least Rs. 25 crore initially (based on an 80:20 ratio) and are eligible to receive up to Rs. 30 crore per season from the media rights value.
- This should cover a sizable portion of the franchise cost each year.
- The deadline to submit technical bids for consideration is January 23.
- The WIPL Team Auction is set for January 25.
How much BCCI will gain?
Viacom has given the BCCI a commitment of Rs 951 crore. This indicates that throughout the course of the next five years, the broadcaster will pay the BCCI a value of INR 7.09 crores every match (2023-27). It should be mentioned that Viacom18, which is sponsored by Reliance, spent Rs 20,500 crore to get the Indian Premier League’s digital rights.
How much money may BCCI make when each franchise is SOLD? In the tender, the BCCI has named 10 Indian cities and the venues, allowing one entity to submit a bid for multiple cities. There is no predetermined base price, and offers will be considered for a ten-year period (2023-32).
On January 25, the BCCI will open the sealed bids and declare the franchise winner. The technical bids must be submitted by January 23 in order to be evaluated by the BCCI and Mumbai-based legal firm Argus Partners.
Starting out, with the Media Rights Revenue for each franchise set at 25–30 crore, the Base Revenue from each franchise can easily be 300 crores.
Owners of Manchester United FC are also curious
The Glazer Family, who own Manchester United, is eager to break into the Indian cricket market. They are determined to secure a Women’s IPL team after their last attempt to purchase an IPL franchise failed. The Glazer family entered the cricket world when it bought the ILT20 league franchise for the Desert Vipers.