Mumbai: The Board of Control for Cricket in India (BCCI) is set to earn an unprecedented Rs 48,390 crore from the sale of IPL 2023-27 media rights after the 3-day auction here on Tuesday.
The income of Rs 48,390 crore is nearly three times the price of Rs 16,347.50 crore at which BCCI sold the media rights for the previous cycle (2018-22) in 2017, making IPL the second most valued sporting league in the world in terms of per match value.
"Since its inception, the IPL has been synonymous with growth and today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in Rs 48,390 crore value. IPL is now the second most valued sporting league in the world in terms of per match value," BCCI Secretary Jay Shah said.
The digital rights was sold for a cumulative amount of Rs 23,758 crore while the TV rights for the Indian subcontinent were sold for Rs 23,575 crore for 410 matches over a period of 5 years, which amounts to Rs 57.40 crore per match.
"Star India won India TV rights with their bid of Rs 23,575 crore. The bid is a direct testimony to the BCCI’s organisational capabilities despite two pandemic years. Viacom18 bagged digital rights with its winning bid of Rs 23,758 crore," Shah said.
Viacom18 aggressive bid for the digital rights shot up over the TV rights after it locked horns worth Disney Star for a special package, which had a non-inclusive set of 18 matches per season.
Viacom18 won the rights for the said package with a bid of Rs 33.24 crore, which amounts to Rs 3,258 crore for 98 matches in the 2023-27 cycle.
Meanwhile, overseas TV and digital rights were won by Viacom18 and Times Internet. Viacom18 won the Australia, South Africa and UK regions while Times Internet won MENA and the US region.
"I congratulate Viacom18 for winning Aus, SA, UK, Times have got MENA & US, who win the Rest of the World Rights. The IPL is as popular outside India as it is here and the viewers will be able to enjoy top-class cricket," Shah said.
India has seen a digital revolution and the sector has endless potential. The digital landscape has changed the way cricket is watched. It has been a big factor in the growth of the game and the Digital India vision, Shah said.
Shah thanked all the bidders for their active interest in securing the IPL Media Rights. "As a key stakeholder, the BCCI will do everything possible to help you realise the full value of your investments," he said.
Shah said BCCI will utilise the revenue generated from IPL to strengthen India's domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India and enrich the overall cricket-watching experience.
"Now, it’s time for our state associations, IPL Franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder – ‘the cricket fan’ is well looked after and enjoys high quality cricket in world-class facilities," he added.
Unlike composite bids for TV and digital in 2017, the BCCI allowed seperate bids for 2022-2027 cycle. Star India had made a composite winning bid of Rs 16,347.50 crore despite Facebook emerging as the highest bidder for digital rights for 2018-22 cycle.
However, the winner of Package A was allowed to enter into an incremental bidding with the highest bidder of Package B. Similarly, both A and B package winners were allowed to bid for Package C.
The bidding for Package B - digital rights for the Indian subcontinent - had stopped at Rs 48 crore per match. However, after an incremental bidding process, Viacom18 managed to win it with a bid of Rs 50 crore per match. (UNI)