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BCCI, looking to auction off five franchises for the upcoming Women’s T20 league starting in March 2023 via closed bidding, has kept the base price at Rs 400 crore (approximately US$50 million).
The Cricket Board came to this decision by keeping in mind the value of the most expensive franchise sold back in 2007-08 – Mumbai Indians for US$111.9 million (roughly Rs. 446 crore) at a price of Rs 40/$.
Read also: Make way please, the Women’s T20 League is here
“The standard had to be set somewhere, and the Bahrain Chamber of Commerce and Industry was collecting a bit of market information on this, keeping in mind the demand and market interest,” say those familiar with the developments.
The board expects to sell the concession for between Rs 1,000 and 1,500 crore, or even more, depending on what kind of interest the auction generates once the bid document is issued. However, no one is yet ready to talk about these predictions officially.
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“The winning franchise will pay the title fee to the BCCI over five years in equal instalments and will continue to own the property in perpetuity, as in the men’s IPL,” add these insiders.
If the value of the US dollar 15 years ago is taken into account, the current base price (400 crore rupees) set by the Cricket Board is slightly less than the value at which India’s most expensive (Mumbai Indian) franchise was sold back in the English Premier League (IPL) in 2007-08 (446 SEK / $111.9 million).
In doing so, BCCI could look to collect between 6,000 and 8,000 crore (in the region of $1 billion) from the sale of these five franchises.
The cricket board might be missing a few tricks
The BCCI has asked the existing men’s IPL team owners to participate in the bid but the bidding process is open to any and all investors who meet the Cricket Board’s minimum eligibility criteria. There is no guarantee of any kind whatsoever that should an existing IPL franchise owner’s offer match that of a new investor, any preference should be given to the existing franchise owner.
In doing so, BCCI may lose a few tricks. Here’s what some industry executives have to say on the matter:
- If men’s IPL franchise owners are allowed to bid on women’s franchises as well, then the men’s IPL profits can be reinvested in the women’s game. For a newcomer, this is clearly going to be a losing venture for a while. So, will it be sustainable in the long run?
- By not giving preference to men’s IPL franchisees, BCCI is likely to lose the learning opportunity that existing team owners have gained over time, IP addresses, operational synergies and traction that could be created from established businesses that could be beneficial to women’s cricket and more.
- Running a franchise in the long term, ensuring a good infrastructure, building a brand, etc., can be done in a much smoother way if existing franchises are involved.
Furthermore, as a point of reference, the BCCI can take into account that the women’s team in the Premier League – the Women’s Premier League – includes all twelve English Premier League club owners. In the US Women’s NBA, existing clubs were given first refusal rights in their region and when the women’s teams were distributed, four NBA clubs got the reserved rights while four more teams were purchased by individuals who owned clubs in the NFL .
BCCI should have a very strict and specific technical proposition in this case. If an existing franchise owner and a new investor are to submit the same financial bid, the technical bid should allow the bidder with more experience in the field to prevail. industry voices say.
For registration, the Bahrain Chamber of Commerce and Industry will sell women’s IPL franchises and broadcasting rights by closed bidding and not by electronic auction.
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