: WPL is the gamechanger in the world of womens cricket #IndiaNEWS #Sports <br>In terms of money, the players involved, and the overall business it has already generated and is likely to create

@IndiaNEWS

Posted in: #IndiaNEWS #Sports

WPL is the gamechanger in the world of womens cricket #IndiaNEWS #Sports
<br>In terms of money, the players involved, and the overall business it has already generated and is likely to create once the action starts, the inaugural edition of the WPL is turning out to be richer than the best cricket leagues and is comparable with the top leagues in football and basketball.
The league, which has five city-based teams, has raised Rs 4,669 crore (0 million) through the auction of franchise rights. Several big corporates showed interest and five of them bought franchise rights for five years from 2023 to 2027 generating huge interest.
The Adani Group won the rights to the Ahmedabad franchise for Rs 1,289 crore (5 million), the Reliance Group-owned Indiawin Sports Pvt Ltd bagged the Mumbai franchise for Rs 912. 99 crore (0 million), GMR-JSW Cricket Pvt Ltd won the Delhi franchise for Rs 810 crore (0 million), Capri Global holdings won the Lucknow franchise for Rs 757 crore ( million) while the Royal Challengers Sports Pvt Ltd, owned by alcohol manufacturing company Diageo, won the Bangalore franchise for Rs 901 crore (0 million).
The money raised by the WPL through the auction of the franchise rights, awarding of title rights and broadcast rights and other sponsorship deals makes it, according to Ampere Analytics a media research firm, the worlds second-highest-valued womens sports league just behind the Womens National Basketball Association (WNBA) in the US.
Though it is yet to be seen how much revenue the WPL will generate for the franchises, the owners are expected to suffer losses initially despite the BCCI pledging to distribute 80 per cent of the profits from the competition among the franchise owners during the first five years.
The BCCI has also decided that for the next five seasons, 60 per cent of the profits will be shared with the team owners, and from seasons 11 to 15, 50 per cent of the profits will be distributed. Additionally, 80 per cent of the revenue from the central licensing rights for the competition will be shared with the franchises.
The franchises, most of them owned by owners who own successful teams in the Indian Premier League (IPL), will also generate revenue through merchandise, ticket sales and advertising. So, it is expected that they may break even and also earn some profit towards the end of the first five-year period. This is a rough estimate projected based on how things have evolved in the cash-rich IPL.
In comparison, the Womens NBA for the first time in its history raised investments of million in 2022 in a bid to revamp its business model as players call for expansion, higher salaries and better benefits.
The WNBA is currently owned half by the 30 NBA teams, and half by the 12 WNBA teams.

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!