‘Capri Sports eyes WPL profitability in 6 years’
Director Jinisha Sharma says buying a WPL team was a calculated risk
Capri Sports, owner of the franchise UP Warriorz, expects to achieve financial stability, and to turn profitable within five–six years. The company had made a substantial investment of ₹757 crore in 2023 to acquire the Women’s Premier League (WPL) team.
Jinisha Sharma, director of the sports division at the non-banking financial company Capri Global, said the decision to buy a WPL team was a “calculated risk” considering the backing of the Board of Control for Cricket in India (BCCI), and growing interest in women’s sports in India. The company owns four sports teams.
As more teams prepare to join the WPL, coupled with growing sponsor interest, the journey becomes even more promising, she added. “We will reach a sustainable level and season-on-season profitability by that year. Having seen the IPL, how it’s growing and how the WPL has grown from one season to the next, we are very confident. We want to build women’s sports not just within teams, but also an ecosystem.” While Sharma acknowledged that other team owners, particularly those who own IPL teams, have built strong brands beyond cricket, the three other franchises owning a WPL team have also wielded their brand power to attract advertisers.
“A lot of people ask us why we invested in a women’s team when we didn’t have an IPL team. But, we do think the time is right for women’s sports,” she said.
The company had initially invested in the International League T20 (ILT20) cricket tournament in 2022, and subsequently rapidly expanded its sports portfolio with five teams across different sports such as the Sharjah Warriors (ILT20) in the UAE; Rajasthan Warriors (Ultimate Kho Kho league), and Bengal Warriors (Pro Kabaddi League). Each team is managed by a separate entity.
Kabaddi has matured viewers across semi-urban and rural India, but kho kho is still at a nascent stage, Sharma said. “We will also look at investing in talent to grow
CAPRI Sports had made an investment of ₹757 crore in 2023 to buy the WPL team UP Warriorz
THE firm took the risk of buying a team considering growing interest in women’s sporting events direction we want to steer our franchise in. We want to get into more feeder leagues and develop more players at nonplaying times of the year,” Sharma said.
According to a 2023 GroupM report, the Indian sports industry saw a substantial increase in 2022, with media advertising, on-ground and team sponsorships, and celebrity endorsements surpassing the ₹14,000 crore mark for the first time, signalling a massive post-covid recovery.
The company, Sharma said, is focused on expanding the viewers of women’s cricket through social media channels and has also recently tied up with Katrina Kaif and Nykaa’s beauty brand Kay Beauty for a title sponsorship. In January 2023, Viacom18, owned by Reliance Industries, secured the media rights for the WPL for ₹951 crore, underscoring the league’s substantial commercial potential.
IT had initially invested in the International League T20 cricket tournament in 2022
the next decade for kabaddi. If India is looking at positioning kabaddi for the Olympics then we need to look for more avenues for talent.”
The company plans to invest in talent during the off-season, recognizing the semi-professional status of most players who participate part-time. “That is not the