Cricket Money Game

Cricket Money Game – A lot of money A lot of noise. Many programs. Women’s cricket in India has been transformed by the arrival of a new franchise Twenty20 (T20) tournament.

The Women’s Premier League (WPL) kicks off in Mumbai on Saturday with the world’s top players, just a week after Australia defended the T20 World Cup in South Africa.

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The WPL is supported by the Board of Control for Cricket in India (BCCI) after the first round of the Indian Premier League (IPL), the sport’s premier tournament.

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“The women’s league is a big development. Indian hockey players will continue to play the game for a long time and this will benefit Indian football in the long run,” said Mithali Raj, former Indian captain and Patron Saint of Gujarat.

The BCCI has resisted calling for a women’s T20 tournament for years, citing a lack of interest from sponsors and broadcasters, but is holding a four-match Women’s T20 Challenge to coincide with the IPL Knockouts. . Other countries, including the Australian women’s football team and England, have dominated women’s leagues.

But late last year, India’s top cricket authority pulled out after a financial investigation report showed little interest in women’s T20 cricket and the WPL was born.

Five electric cars were put up for auction in January in the inaugural competition and together sold for $580 million. Three regular men’s IPL teams – Mumbai Indians, Royal Challengers Bangalore and Delhi Capitals – have bought WPL franchises with bases in Mumbai, Bengaluru and New Delhi.

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Two new franchises have been created, Adani Group and Capri Global Buyers Gate Google, based in Ahmedabad, and Lucknow-based UP Warriors.

The three-week tournament will feature 22 matches, including 20 in the league stage and two knockouts, all of which will be played in Mumbai in the first season. It starts with Mumbai Indians against Gujarat Giants.

WPL has become the highest grossing cricket property in the world in terms of franchises and player values.

About 1,500 candidates applied for 90 positions — including 30 internationals — in the Feb. 13 player auction, when each franchise had $1.5 million. All but three appointments were made on the day of the auction.

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Indian legend Smriti Mandhana was the most expensive player in the auction, where Royal Challengers Bangalore offered $413,950 for him.

Australia’s Ashley Gardner has joined Gujarat Giants and England international Natalie Score has joined Mumbai Indians in the best international deal worth $390,000.

Indian national team captain Harmanpreet Kaur went to India for $220,000,000 and will lead the franchise during the inaugural season.

Mumbai I had never seen Mumbai before, I will never forget 2 March 2023 | #WPL | #WPL2023 pic.twitter.com/qFsg3TQixH — Anisha Ghosh (@ghosh_annesha) March 2, 2023

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Australian hockey players were in high demand for their leadership skills. Multiple ICC World Cup winner Meg Lanning will lead the Delhi Capitals, star batsman Beth Mooney will lead the Gujarat Giants, and star keeper Alyssa Healy will lead the UP Warriors.

Bangalore are early favorites with Mandhana, Sophie Devine (New Zealand), Alice Perry (Australia), Heather Knight (England) and legendary Indian goalkeeper Richa Ghosh in their squad.

Viacom18 bought the tournament’s global television and broadcast rights for $120 million over five years, more than it paid for rights to South Africa’s men’s league over a decade, but a deal comparable to the IPL.

While it is still in its infancy, the WPL is still highly anticipated to raise the profile of women’s sports in India and raise the expectations of future players.

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With media rights for the first five seasons, the WPL has earned the Indian Cricket Board just under $700 million, making it the second largest women’s sports tournament in the world after American professional basketball. Ten years ago he founded a private investment firm. RedBird Capital Partners, Gerry Cardinale bought stakes in sports such as various Fenway Sports Group, the Yankees’ YES Network and Italian soccer team A.C. Milan One of his colleagues at Redbird, Alec Shaner, formerly of the N.F.L. He served as vice president of the Dallas Cowboys, and later moved to the Cleveland Browns.

Both men, then, are well aware of what a multi-billion dollar business looks like. The games where they get the best deals, though, can be unpredictable.

“When we first started watching football, we weren’t experts,” Shaner said. “But the more we learned about it, the more we realized it sounded like the NFL did it 20 years ago,” he said.

So, in June 2021, Redbird bought a 15% stake in Rajasthan Royals, a team competing in the Indian Premier League, for 37.5 million. The money that has poured into the league over the last 15 months shows that the Redbirds have secured a deal.

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Four months after that agreement, the I.P.L. The expansion team sold 940 million. Eight months later, the league signed a new deal worth $6.2 billion for television and broadcast rights.

At more than $1 billion a year, that means India’s biggest cricket league — a closed league with just 10 teams — now brings in as much annual media revenue as major leagues like the NFL. ($10 billion a year), the Premier League (about $6.9 billion) and the N.B.A. ($2.7 billion).

On a sports basis, in fact, the I.P.L., which lasts only two months, is now behind the N.F.L.

Disney and Sony were among the top contenders for the broadcasting rights last year. CVC Capital Partners, the private equity firm that once owned Formula 1 motor racing, just joined the I.P.L. The team on the portfolio is already interested in hockey and football. Who did he win? The American owners of the Tampa Bay Buccaneers of the N.F.L. and English football giant Manchester United.

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“I’m not sure we thought there would be such a big global demand for franchises,” Shaner said. Redbird’s $37.5 million investment has more than quadrupled in value in just one year. And with the influx of new investors, many experts believe that every I.P.L. The franchise is now worth at least a billion dollars or more.

Making money in cricket is nothing new in India. As recently as the 1990s, the governing body of sports in India paid the state television, Doordarshan, to show national team matches. The introduction of I.P.L in 2008 changed all that. League teams playing Twenty20, a televised, three-hour match that took the form of a multi-day Test match, gave football a pedestrian image. I.P.L. The games now attract more than 200 million home television viewers.

India’s passion for cricket and the size of its market have attracted huge investors from abroad. Credit… Indranil Mukherjee/Agence France-Presse – Getty Images

The rise of the league is fast. Its architect, Lalit Modi, was the chief executive of the governing body for the sport in India, the Board of Control for Cricket in India. He realized that Twenty20 could marry India’s love of football into a huge business opportunity, and in late 2007 he pulled off a potential deal to put together a sports league.

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He promised a group of hockey players the best salaries in the world that they won’t find anywhere else. He held a high-profile auction to sell the teams to elite businessmen and members of the media. He then convinced Sony to pay $900 million for the rights to broadcast the first 10 episodes of the tournament.

“It ticked a lot of boxes from an investment perspective,” said Mustafa Ghosz, chairman of one of the league’s founding teams, the Delhi Capitals. “It’s a closed league with no ties, so your income is protected regardless of your performance, while costs are limited to player salaries,” he said.

With these proposed club ownership bases, Modi sold eight of his clubs for $723 million. Buyers include industrialist Mukesh Ambani and Bollywood actor Shah Rukh Khan. The Twenty20 game of cricket, which had traditionally been dismissed as “hit and laugh”, began to be taken seriously.

Redbird Capital Investments has valued Rajasthan Royals at $250 million. Four months later, the I.P.L. The broader group had sales of nearly $1 billion. Credit…Bangalore Photos, via Associated Press

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However, the initial survival of the league was often poor. The second season had to be moved to South Africa due to security reasons. After a power struggle, Modi was expelled from the BCCI. In 2010. Three teams were suspended after facing financial problems, and two others were suspended for several years after executives were involved in match-fixing and illegal betting cases.

But after the Supreme Court of India intervened, setting up a judicial committee to tighten governance rules and regulate conflicts of interest, the I.P.L. It really took off as an investment vehicle.

According to Matthew Wheeler of A&W Capital, which advises on sports investments, Matthew Wheeler said:

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