The auction for the teams that will compete in the inaugural Women’s IPL(WIPL) will be held on Wednesday. As per reports, as many as 30 companies have shown interest. They have picked up the bid paper. Only five teams among the lot will be seen in action at the Women’s IPL. The bid papers worth Rs 5 lakh have been bought by the 30 companies and 10 among them have their teams in the men’s IPL. However, there are rumor’s that Chennai Super Kings and Gujarat Titans have backed out.
Popular big names in different sectors like – Adani group, Torrent group, Haldiram’s Prabhuji, Capri Global, Kotak, and Aditya Birla Group have shown interest. Each team is expected to be sold in the range of Rs 500-600 crore. BCCI is all set to see another windfall of Rs 4000 crore as some of the top business houses are set to put it all on the table to be among the five teams in the Women’s IPL(WIPL).
As per market experts, the teams could go on to bid for amounts in the “range of 500 to 600 crore INR” per team.
“WIPL has huge potential but most of the legacy teams would like to mix optimism with pragmatism,” an industry insider, who has previously worked on men’s IPL team bids, said to PTI ahead of the auction.
“Expect a few bids in the range of Rs 500 crore upwards. Rs 800 crore plus could be a bit ambitious but BCCI won’t complain,” he further added.
According to market insiders, there are two principles on which these bids are placed by business houses – “Return on Investment” (ROI) AND “Return of Ego”. ROI stands for the profit on which an entity spends while Return of Ego means that if a company is adamant about buying a team then they will go all out for it even if it takes five to seven years to touch the breakeven point.