Over 30 companies have taken the Invitation To Tender document to be eligible to bid for an Women’s Indian Premier League
Over 30 companies have taken the Invitation To Tender (ITT) document to be eligible to bid for an Women’s Indian Premier League (WIPL) team and some of them are newcomers to the world of sporting leagues. Chennai-based Shriram Group, Nilgiri Group and AW Katkuri Group are the names who have shown interest along with corporates like APL Apollo and Haldiram, a group of companies producing snacks and sweets.
A disclaimer here: All those who have bought the ITT may not necessarily bid but the WIPL, it must be mentioned, seems to have inspired the Indian corporates. If more have not taken and if the Bollywood stars have stayed away, it is because of the Rs 1000 crores net worth condition for an aspirant to bid for WIPL side.
A couple of cement companies – Chettinad Cement and JK Cement – seem interested and if they manage to land teams, they will be joining a third cement company, India Cements (of CSK), to be having a cricket franchise. Groups with cricket teams, if not in the IPL, like Capri Global (of Sharjah Warriors in the ILT20) and the Adani Group (of Gulf Giants in the ILT20) too have bought the ITT.
All the IPL franchises have, of course, taken the ITT and are expected to be in the race to buy the WIPL teams, the auction for which will be held in Mumbai on January 25. An interesting part of the IPL factor in the WIPL is that two owners of the Delhi Capitals team – the GMR Group and JSW Group – could be vying separately. The two groups have taken the ITT separately along with one as Delhi Capitals. The sale of ITT will close in the next 24 hours.
Meanwhile, the BCCI has communicated an estimate of expenses and incomes from the WIPL. According to the P&L statement, the BCCI would be earning up to Rs 125 crores in the first year from the media rights sale. In the subsequent years, the income from the source is Rs 162.15 crores. The burden on Viacom 18, which bought the media rights for Rs 950 crores for five years on the calculation of Rs 7.09 crores per game, will be less on the first year.
Accordingly, the central revenue share (on 80:20 ratio) will be Rs 28.08 crores for the team finishing first in the league, with other subsequent sides getting Rs 27.20 crores, Rs 26.33 crores, Rs 25.45 crores and Rs 24.57 crores in that order. This share is inclusive of Rs 77 crores income from central sponsorship which the BCCI is yet to announce. The revenue share will increase in the next four years.
As already reported by Cricbuzz, the salary cap will be Rs 12 crore in the first year with Rs 1.5 crores increment in the next four years which will add up to Rs 18 crores in 2027, the last-year of the current five-year media rights cycle. The league is likely to be played entirely in Mumbai in the first year with the tentative dates being March 4 to 26. The WIPL will allow five overseas players in the playing XI with an express condition that one of the foreigners must be a player from an Associate country.
