The Board of Control for Cricket in India (BCCI) is about to earn a whopping quantity of ₹48,380 crore from the sale of Indian Premier League (IPL) 2023-27 media rights after the three-day public sale in Mumbai.
While Disney Star has retained the IPL tv rights for ₹23,575 crore ( ₹57.5 crore/recreation), essentially the most sought-after India digital rights deal was acquired for ₹20,500 crore by the Reliance backed Viacom18, which additionally gained the non-exclusive Package C, paying one other ₹2,991 crore.
The deal for package deal A and B is for 410 matches throughout 5 years with 74 matches every in 2023 and 2024 and 84 every in 2025 and 2026. The 2027 version could have 94 video games.
Viacom18 entered the fray by a consortium, which has former Star India head Uday Shankar (Bodhi Tree) and James Murdoch (Lupa Systems), in it.
“I am thrilled to announce that STAR INDIA wins India TV rights with their bid of ₹23,575 crores. The bid is a direct testimony to the BCCI’s organisational capabilities despite two pandemic years,” BCCI secretary Jay Shah tweeted.
“Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per match value,” Shah added.
The IPL, when it comes to sheer valuation, will now be bracketed within the top-most sporting properties alongside National Football League (USA), National Basketball Association (USA) and English Premier League (England), essentially the most watched sporting occasion on this planet.
The new deal additionally ends the monopoly of a single broadcaster. Sony had acquired the rights by paying ₹8200 crore for the primary 10 years (2008-17) whereas Star with a bid value of 16347.50 gained it for the following 5 years.
There was a additionally a Package C, the place digital rights of 18 non-exclusive marquee video games per season had been up for grabs and Viacom18 gained it with a profitable bid of ₹2991.6 crore on the fee of ₹33.24 crore per match. There are 90 matches on this package deal.
Package D with a base value of ₹3 crore per recreation with abroad TV and Digital Rights on provide was offered for greater than 1300 crore to Viacom18 and Times Internet.
The worth of per IPL match made greater than a 100 per cent bounce from earlier ₹54.5 crore to above ₹114 crore (approx). Globally, the per match worth (USD 14.61 million) in IPL is second solely to NFL the place each match is value USD 17 million.