Women's Premier League's five clubs sell for $576M
𝐁𝐂𝐂𝐈 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐬 𝐭𝐡𝐞 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐛𝐢𝐝𝐝𝐞𝐫𝐬 𝐟𝐨𝐫 𝐖𝐨𝐦𝐞𝐧’𝐬 𝐏𝐫𝐞𝐦𝐢𝐞𝐫 𝐋𝐞𝐚𝐠𝐮𝐞.
— BCCI (@BCCI) January 25, 2023
The combined bid valuation is INR 4669.99 Cr
A look at the Five franchises with ownership rights for #WPL pic.twitter.com/ryF7W1BvHH
The five franchises for the inaugural Women's Premier League season in India have been sold for £465M ($576M). The WPL, which takes place in March, is a women's version of the Indian Premier League, the world's biggest Twenty20 franchise competition. Owners of three existing IPL teams -- Royal Challengers Bangalore, Mumbai Indians and Delhi Capitals -- secured the rights for the women's franchises, while the other two teams were awarded to Adani Group (Ahmedabad) and Capri Global (Lucknow). The owners of four other IPL franchises -- Kolkata Knight Riders, Punjab Kings, Rajasthan Royals and Sunrisers Hyderabad -- were unsuccessful with their bids. The Board of Control for Cricket in India previously sold the media rights for the WPL to Viacom 18 for approximately £96M ($119M) (BBC, 1/25). The eight franchisees in the men's IPL were sold for $723.6M "before the maiden edition" in 2008. The WPL player auction will take place next month. The BCCI on Monday had cleared 17 technical bids for the closed door bidding that took place Wednesday (TIMES OF INDIA, 1/25).
The most expensive franchise was Ahmedabad, which was sold to Adani Sportsline for $158M. Parent company Adani Group is "currently in the eye of a storm," having being accused of "pulling the largest con in corporate history" by U.S. investment firm Hindenburg Research. Billionaire Mukesh Ambani’s Indiawin Sports acquired the Mumbai franchise for $111M, Royal Challengers Sports Bengaluru for $110M and JSW GMR Cricket Delhi for $99M. Capri Global Holdings acquired the Lucknow franchise for $93M (VARIETY, 1/25).