Media rights for the Indian Premier League (IPL) will seize worth worthy of the league’s speedy rise, particularly after the addition of two new groups and powerful digital development, secretary of the Indian cricket board (BCCI) Jay Shah informed Reuters.
“The aspirational value of Brand IPL has surpassed anyone and everyone’s expectations,” Shah stated in an interview.
He declined to debate any greenback figures, however stated, “The valuation will mirror the rise and growth of the league.”
The BCCI will float tenders for the expanded league’s media rights for the 2023-27 cycle as early as the approaching week and full the e-auction in two months, Shah stated.
Industry sources count on it would fetch as a lot as 500 billion rupees ($6.7 billion).
Shah added that the board had studied numerous fashions and proposals, amid expectations that separate TV and digital bids could be thought-about.
That would imply a bid from Amazon.com Inc, with solely a digital platform, may be accepted this time after the BCCI in 2017 chosen a consolidated TV and digital bid. Star India, owned by Walt Disney Co (DIS.N), paid 163.48 billion rupees for the 2018-22 cycle.
The league will welcome two new franchises this season after Lucknow and Ahmedabad paid a mixed $1.7 billion to achieve their entry into the world’s richest cricket league.
“Two new teams mean more opportunities to the entire cricketing ecosystem. You can gauge the level of interest with the valuation for two new teams,” Shah stated.
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