WIPL Team Auction | The Board of Control for Cricket in India (BCCI) is set to make big bucks as several business houses are likely to bid aggressively for the five women’s cricket teams. IPL teams. While, the last day for submission of technical bids is January 23, financial bids will be submitted till January 25, the day the 5 WIPL teams will be unveiled. Notably, 30 odd companies have bought bid documents worth Rs 5 lakh, including corporate houses like Adani Group, Torrent Group and Prabhuji of Haldiram.
According to market experts, the teams are expected to pay in the “range of Rs 500 to 600 crores” per team in the closed bid auction. An industry insider, who has worked on earlier men’s IPL team bids, told PTI ahead of the auction, “The WIPL has huge potential, but most of the older teams would like to mix optimism with pragmatism.” He added, “Expect some bids in the range above Rs 500 crore. Over Rs 800 crore might be a bit ambitious but the BCCI won’t complain.”
Over 30 companies have bought bid documents worth Rs 5 lakh including all 10 men’s IPL teams. Well-known corporate houses like Adani Group, Torrent Group, Haldiram’s Prabhuji, Capri Global, Kotak and Aditya Birla Group have also shown interest in buying a team. Some of these companies were unsuccessful when the BCCI invited bids for two new men’s teams in 2021.
Among the traditional IPL teams, Mumbai Indians, Rajasthan Royals and Delhi Capitals, KKR could seriously consider adding to its already existing bouquet of men’s teams around the world. According to market experts, business houses bid on the basis of two principles. The first is “Return on Investment” (ROI), which is a fundamental principle of any business. It is the profit on what a unit costs.
The second is not a business principle, but in the business community they call it “the return of the ego”. This is something where some of the biggest business names are ready to pay any amount to have their eye on buying a particular property. Even if it takes five to seven years to touch the break even point. It’s all about the desire to buy something at any cost. An existing IPL franchise with its “steady revenue stream” can afford to “bleed” a bit more in the initial years than is inevitable.