No involvement in cryptocurrency and blockchain branding: BCCI to WPL franchises
The BCCI has clarified to the Women's Premier League (WPL) franchises that it can involve commercial associations with fantasy sports, but must avoid involving with cryptocurrencies, betting, gambling, real money and tobacco sectors. The board has warned that any franchise associating itself with barred brands could face stringent actions.
In what the BCCI calls a Commercial Workbook, it has instructed all franchisees to submit copies of all commercial agreements ten days before the start of the inaugural WPL season. Cricbuzz accessed the 68-page advisory and stated:
"No Franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an entity that is involved/operates, directly or indirectly, in the betting/gambling/real money gaming/tobacco sector. The Franchisees may engage in partnerships with entities in the fantasy sports sector."
Today is a historic day in cricket as the bidding for teams of inaugural #WPL broke the records of the inaugural Men's IPL in 2008! Congratulations to the winners as we garnered Rs.4669.99 Cr in total bid. This marks the beginning of a revolution in women's cricket and paves the
In further instructions, the BCCI has pointed out that:
"No Franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an entity that is involved/operates, directly or indirectly, in the cryptocurrency sector. As an obvious consequence, any contractual arrangement with any blockchain service provider, fan tokens, collectables, that are directly or indirectly affiliated to the cryptocurrency sector are a no-no for the WPL."
The first season of WPL will begin on March 4th and run till the 26th, with franchise rights sold to Adani Group, Indiawin Sports Pvt ltd, GMR–JSW Cricket Pvt Ltd, Capri Global Holdings, and Royal Challengers Sports Pvt Ltd.
"Any breaches will be dealt with as per the provisions of the disciplinary process" - BCCI
The BCCI has further stated that breaching their rules will result in a punishment as per prescribed by the protocols and added:
"These guidelines form part of the WPL regulations and any breaches of these guidelines will be dealt with as per the provisions of section 6 of the Operational Rules. Any breaches of the Clothing & Equipment Regulations will be dealt with as per the provisions of the Disciplinary process.
"The franchisees should provide full details of the rights and benefits that will be utilized by their sponsors, not less than 10 days before the start of the season, as per the franchise commercial deliverables sheet, which will be shared by the BCCI."
10 sets of players done at #WPLauction Here's the summary:
Purse left
DC 3.95 crore
GG 3.75
MI 2.60
RCB 3
UP 2.95
34 players sold, 15 of them overseas, for 43.75 crore
GG have bought five overseas. UP have the biggest squad, of 10. RCB and MI have the smallest, of five.
The WPL auction took place on February 13, with the likes of Smriti Mandhana, Ashleigh Garnder and Nat Sciver attracting the highest bids.