A cricket league based on the Jain community has made a strong debut, with 12 franchises sold for a total of ₹31 crore in its inaugural auction.
Backed by the Jain International Trade Organisation (JITO), the JITO Premier League (JPL) held its first franchise auction on March 24, attracting over 50 bidders in an IPL-style event.
Mumbai Sobo Star emerged as the most expensive team, sold for ₹3.7 crore, followed by Bengaluru at ₹3.2 crore. A Surat-based businessman acquired the Gujarat team for ₹2.4 crore.
Shweta Hundia, secretary of JITO Sports, said the league received around 6,500 player registrations from the Jain community and secured ₹5.1 crore through title and trophy sponsorships.
JITO Apex chairman Pruthviraj Kothari said the league has shifted from a charity model to a fully professional, corporate sports format. Over 40 matches are planned across 12 cities during April and May, with playoffs and the final likely to be held in Mumbai.
Franchise owners are required to pay only 50% of the fee in the first year, while the JITO Sports Foundation will cover expenses such as coaching and travel.
Non-Jain investors can own up to 20% stake in a team. At the end of the season, 40% of surplus revenue will be shared among franchises, Kothari added.
Jainik Vakil, secretary of JITO Ahmedabad, said teams can also earn through brand endorsements and may trade their stakes at higher valuations in the future.
JITO Apex vice-chairman Himanshu Shah said players will sign three-year contracts, with fees set at ₹1 lakh for Category A, ₹60,000 for Category B, and ₹40,000 for Category C.
The organisers are also planning to invite well-known cricketers like Jonty Rhodes, Sanath Jayasuriya, Ross Taylor, Shikhar Dhawan, Suresh Raina and Munaf Patel as mentors or icon players for the teams.
The high-value auction and strong participation signal a promising start for the league, bringing community-based cricket closer to a professional sporting model.