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BCCI to rake-in Rs 4000 crore in Women’s IPL bids

The Women’s IPL (WIPL) is set to rake in at least Rs. 4,000 crores for the BCCI as top business houses are set to bid aggressively for the five Women’s IPL (WIPL) teams up for auction on Wednesday.

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Women's IPL

The Women’s IPL (WIPL) is set to rake in at least Rs. 4,000 crores for the BCCI as top business houses are set to bid aggressively for the five Women’s IPL (WIPL) teams up for auction on Wednesday.

Market experts say that the teams are expected to shell out in the “range of 500 to 600 crore INR” per team in the closed-bid auction.

Industry insiders believe the WIPL to be full of huge potential and expect a “few bids” in the Rs 500 crore range, adding that upwards of Rs 800 crore would be a bit ambitious but not totally unexpected.

Corporate giants such as Adani group, Torrent group, Haldiram’s Prabhuji, Capri Global, Kotak and Aditya Birla Group have shown interest in buying a team. They are among at least 30 companies who have bought the bid documents worth Rs 5 lakh including all the 10 men’s IPL teams.

Some of these companies were unsuccessful when BCCI invited bids for two new men’s teams in 2021.

Among the traditional IPL teams, Mumbai Indians, Rajasthan Royals, Delhi Capitals, KKR could seriously contemplate to add to the bouquet of their already existing men’s teams across the globe.

Market insiders say, there are two principles according to which the bids are place by business houses.

First is “Return on Investment” (ROI)- the core principle of any business. It is profit on what an entity spends.

The second one isn’t a business principle as such but in business community they call it “Return of Ego”, which is something where some of the biggest business names are ready to shell out any amount if they have their eyes on buying a particular property. Even if it takes five to seven years for breaking even.

It’s about wanting to purchase something at any cost. An existing IPL franchise with its “steady revenue stream” in place can afford to “bleed” a bit more in initial years which is imperative.

A report quoted a former IPL franchisee official, who once worked on bids, explained the mindset behind the bidding process.

He said that the major earning chunk for a franchise comes from the BCCI media broadcast revenue which is distributed. Second is a is a share from BCCI’s central pool of sponsorship, while third is a franchisee’s own set of sponsorship earnings. Fourth is gate sales, money earned from tickets.

According to the official, the in case of Women’s IPL, the BCCI is going to share 80 percent of media rights money with the teams as opposed to the 50-50 arrangement it has with the men’s IPL teams.

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So, if Jio has brought media rights for five years at Rs 950 crore (approx) which is roughly Rs 190 crore per year. So, 80 percent of 190 crore is 152 crore, is what the franchise gets over a period of five years which approximately Rs 30 crore per annum, he explained.

Elaborating further, he added that BCCI will also distribute a chunk of its central pool of sponsorship (title sponsor, co sponsors, various award sponsors) also with franchise. Add to it franchisee’s own revenue pool also. So it could be anything between Rs 15 to Rs 18 crore per year.

This takes up the yearly earnings for a team around Rs 50 crore.

The official elaborated on the expected yearly expenses of a team including the Rs 100 crore franchisee fee to be around Rs 130 crore, so the franchise owners can expect a loss in the orbit of Rs 50 crore or more for the next few years.It

However, he adds, the catch is that the legacy men’s IPL franchises are better placed to offset these losses as they are already making profits after 15 years of IPL. They will club their men’s and women’s team together and perhaps quickly make the profit zone.

The five-team WIPL will be played in the month of March in Mumbai at a couple of venues.

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Rafael Nadal announces retirement from tennis

“It is obviously a difficult decision, one that has taken me some time to make. But in this life everything has a beginning and an end,” Nadal said in the video in Spanish.

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Rafael Nadal, a 22-time Grand Slam champion and widely regarded as one of the most exceptional players in the history of tennis, has announced his retirement from professional tennis.

Nadal’s forthcoming participation in the Davis Cup final 8 for Spain in November will mark his final appearance as a professional tennis player. His illustrious career includes 22 Grand Slam titles, with an unprecedented 14 victories at the French Open, solidifying his status as one of the most accomplished sportspersons of all time.

The champion, in an emotional video posted on X on Thursday, said, “I am here to let you know I am retiring from professional tennis. The reality is that it has been some difficult years, these last two especially.”   

“It is obviously a difficult decision, one that has taken me some time to make. But in this life everything has a beginning and an end,” Nadal said in the video in Spanish.

The 38-year-old mentioned that he has been dealing with numerous injuries over the past few years, leading to significant time away from the sport. This year, the left-handed player has only participated in seven tournaments, experiencing an early exit in the first round of the French Open – an event he has historically won 14 times.

His most recent performance was at the Paris Olympics, where he was defeated by Novak Djokovic in straight sets during the second round.

Nadal boasts an impressive total of 92 ATP singles titles, which includes 36 Masters titles and an Olympic gold medal. Notably, he is one of three men in tennis history to achieve the Career Golden Slam in singles. The announcement of his retirement came through an emotional video shared on social media.

In the lead-up to his retirement, Nadal withdrew from the 2024 Laver Cup, which was intended to be his final professional event on the court. Following the Paris 2024 Olympics, Nadal confirmed that the Laver Cup would be his next appearance for the year. This would have marked his fourth participation in the Laver Cup, after competing in Prague in 2017, Geneva in 2019, and partnering with long-time rival Roger Federer in doubles for the latter’s final match at The O2 in London in 2022.

The 22-time Grand Slam Champion had previously hinted that 2024 might be his last year on the tour. With a season match record of 12-7, his latest competitive outing was at the Paris Olympics, where he was eliminated in the second round by Novak Djokovic.

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Vinesh Phogat returns to India after Paris Olympics heartbreak, says fight not over yet

The Indian wrestler was disqualified from the 50kg final in the Paris Olympics due to exceeding the weight limit by 100 grams.

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Wrestler Vinesh Phogat who arrived in the national capital to a rousing reception at the Delhi Airport on Saturday thanked the people of the country for their support during Paris Olympics and said the fight is not over yet.

She was received by her fellow athletes Bajrang Punia, and Sakshi Malik as well as Congress leader Deepender Hooda, and Panchayat leaders. The Indian wrestler was disqualified from the 50kg final in the Paris Olympics due to exceeding the weight limit by 100 grams.

During the roadshow after her arrival, the 29-year-old said she was grateful for the love and respect that she received from her country.

Addressing a gathering, Phogat said: “Although they didn’t give me the Gold medal, people here have given me that. The love and the respect that I have received is more than 1,000 Gold medals.”

The fellow wrestler Punia said that the love and respect she has received now is more than what she could’ve received after winning a Gold medal. He thanked the people of the entire nation for their support.

Premlata, mother of wrestler Vinesh Phogat said that everyone from her village and nearby areas have come here to welcome her. “We will felicitate her. She is a champion for me. The country has given her more honour than a gold medal”, she said.

Sharing pictures with the fighter on X, the Congress MP Hooda said: “Today, our sister Vinesh Phogat, the daughter of the country, who returned home like a brave warrior, was given a rousing welcome at the Delhi airport. In our eyes, you have been a winner in the past and will remain so in the future too. Your courage, struggle, and determination have not only won the hearts of crores of countrymen but you are an inspiration to crores of youth of the country.”

The Congress MP Shashi Tharoor also took to X and wrote in Hindi, “Everything is stacked ahead of it, this girl is a lion; Welcome Home Phogat.”

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CAS verdict on Vinesh Phogat: CAS says verdict before August 11, the day the Olympics ends

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The Court of Arbitration For Sport (CAS) accepted Indian wrestler Vinesh Phogat’s plea for a joint silver medal in the women’s 50kg wrestling at the Paris Olympics.

Hearing on her appeal started around 9:30 am Paris time, or 1 pm IST on August 9, though an interim verdict was expected, the CAS put out a statement that the order will come before the Olympics end on August 11.

The development has come as a big shot in the arm for both Vinesh Phogat and the Indian Olympic Association. The CAS, in its prima facie views on Thursday, found merit in Vinesh’s plea for a joint silver medal after she was disqualified from the final for being 100 grams overweight.

Vinesh was disqualified just hours before her gold-medal bout against Sarah Ann Hildebrandt of the USA. Although she had guaranteed at least a silver medal by making it to the final, she lost the podium finish following a failed weigh-in. Attempts to shed some kg came to naught as she was disqualified anyway. The ruling of the United World Wrestling – that a wrestler must be within the weight category on each day of competition – saw Vinesh lose the chance at winning a medal.

Though Vinesh’s opponent in the semi-finals, Cuba’s Yusneylis Guzman Lopez, made it to the final, the script ended there as she was beaten by America’s Sarah Ann Hildebrandt who became the fourth woman from her country to win a gold medal in wrestling.

Following her disqualification, Vinesh and the IOA filed two appeals with CAS. While the first one seeking permission for Vinesh to participate in the final was dismissed, the second appeal seeking a joint silver medal was allowed. Vinesh had won her first three bouts on August 6 but could not make her weight for the second-day weigh-in, which resulted in the disqualification.

The IOA has engaged Senior Advocate Harish Salve to argue its case before the CAS on behalf of Vinesh. The IOA argued that the 100 grams excess weight was insignificant and due to various factors such as bloating or recovery after intense competition and not for any gain.

This comes at a time when Vinesh has just declared her retirement from wrestling.

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