IPL: The Board of Control for Cricket in India (BCCI) is all set to roll out some big bucks from the broadcasting rights of the Indian Premier League (IPL). The IPL Broadcast rights are sold every five years. For the 2023-2027 cycle, the BCCI is set to earn up to $ 5 billion, reported PTI.
The current broadcast rights for TV and Digital were bought by Star India for 2017-2022 for a whopping ₹16,347.50 crore ($2.55 billion). This amount is reportedly going to be doubled to $ 5 billion, report suggests.
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“There is a well-known US-based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases,” a senior BCCI official told PTI on conditions of anonymity.
“But with two new teams about to fetch anything between ₹7000 crores to 10,000 crores, the broadcast rights are certainly going to shoot through the roof. So expect the IPL broadcast rights to go for anything above $4 billion and maybe up to $ 5 billion,” the official in the know of things said.
Previously, Sony India had won the Broadcast rights fro IPL from 2008-2017 but they lost to Star India in 2017. Star had bid ₹5300 crores more than Sony’s bid in 2017. Sony’s final bid was ₹ 11,050 crore ($ 1.47 billion) while Star’s was ₹16,347.50 crore ($2.55 billion).
BCCI has seperate bids for digital, television, and also a combined one for both. ‘Any company can also bid separately but if the valuation of the singular composite bid is more than the cumulative amount of singular bids, then that is considered by the Board,’ reported PTI.
Meanwhile, it is being reported that owners of English Premier League giants Manchester United, the Glazers Family, is interested in buying an IPL franchise.
IPL, which so far has eight teams participating in the cash-rich tournament, will become a 10-team affair. The new teams may have their home grounds in Ahmedabad, Lucknow or Pune and are expected to be unveiled on 25 October in Dubai.
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