The five franchises for the inaugural Women’s Premier League, WPL, in India sold for £465 million.

The WPL, which takes place in March, is a women’s version of the Indian Premier League, IPL, the world’s biggest Twenty20 franchise competition.

Owners of three existing IPL teams – Royal Challengers Bangalore, Mumbai Indians, and Delhi Capitals – secured the rights for women’s franchises.

Adani Group and Capri Global were awarded the rights for the two other teams to be based in Ahmedabad and Lucknow.

The owners of four other IPL franchises, Kolkata Knight Riders, Punjab Kings, Rajasthan Royals, and Sunrisers Hyderabad, were unsuccessful with their bids.

The Board of Control for Cricket in India, BCCI, previously sold the media rights for the WPL to Viacom 18 for approximately £96 million.

BCCI secretary Jay Shah described the deal as “transformative” for women’s cricket.

Officials will host a player auction ahead of the tournament, purportedly slated for early February.

Each team can sign up to seven overseas players, with England stars such as spinner Sophie Ecclestone and all-rounder Nat Sciver expected to be among the most expensive.