WPL heralds the transformation of Women’s cricket as the ecosystem value rises by 8% in 2024
In a thrilling update, according to the assessment reports from a valuation services firm, D&P Advisory, the valuation of the WPL ecosystem has experienced a promising increase of 8% (from Rs 1,250 Crore to Rs 1,350 Crore) this year.
The impressive success and positive trajectory of the Indian women’s team on the international stage have led to a heightened demand for establishing the first-of-its-kind franchise league for women cricketers in India, offering them a platform to showcase their talents.
The BCCI officially inaugurated the first edition of the franchise league known as the Women’s Premier League (WPL) in 2023. A total of five teams—Mumbai Indians (MI), Gujarat Giants (GG), Royal Challengers Bangalore (RCB), Delhi Capitals (DC), and UP Warriorz (UPW)—competed in this inaugural tournament.
Mumbai Indians, under the leadership of Harmanpreet Kaur, were crowned the first champions of the tournament. They triumphed over the Delhi Capitals, captained by Meg Lanning, in the final match by a margin of seven wickets. In the second edition, the Royal Challengers Bangalore (RCB), led by Smriti Mandhana, who finished in the second-to-last position (fourth place) in the inaugural season, made an impressive comeback to claim the championship title.
An extraordinary achievement that the men’s version of the franchise had been aspiring for over the past 16 years since the Indian Premier League (IPL) commenced in 2008 was accomplished by the women’s team just in the second edition of the tournament, setting a benchmark for the men’s team to emulate. They overcame the Delhi Capitals, led by Meg Lanning, to secure their inaugural title in franchise cricket.
The teams receive 80% of WPL’s central sponsorship income, which ranges from Rs 1,000-1,100 Crores. “In the initial five years, I believe it will be quite challenging for any of the franchises to turn a profit due to the amortization costs associated with the bid amount. Additionally, the fact that 80 percent of the central pool isn’t sufficient for the franchises to offset their losses is a concern. However, what is crucial is that, unlike the IPL, where a significant increase in revenues occurred in its 11th year because the initial ten years of media rights were locked in, in WPL, that scenario is different. Another media rights cycle is set for the fifth year. Hence, it is possible that the adjustment experienced in IPL’s 11th year may occur in WPL’s sixth year,” remarks D&P Advisory Managing Partner Santosh N, highlighting the contrast in media rights renewal timelines compared to the men’s franchise league and its potential positive influence on WPL.
We are just under a month away from the forthcoming 9th edition of the Women’s T20 World Cup 2024. Initially slated to be hosted by Bangladesh, the tournament will now be held in the United Arab Emirates due to political instability in the country. The competition will commence on 3rd October 2024 and conclude on 20th October 2024. All matches will take place at the Sharjah Cricket Stadium and the Dubai International Cricket Stadium.
Image Source: Delhi Premiere League T 20 @ YouTube
