Bidding war for IPL media rights crosses $5.3 billion mark, more than double previous value – Reports

There is an intense bidding war between some of the biggest media houses and conglomerates in the ongoing online auction for Indian Premier League (IPL) media rights. IPL media rights for the next five-year cycle from 2023 to 2027 are up for grabs in the ongoing online auction. Disney Star, Sony, Zee, SuperSport and Viacom 18/Reliance are some of the top contenders in the fray to land the broadcast rights to the world’s biggest T20 league for the next five years.

The electronic auction for IPl media rights for the 2023-27 cycle started around 11:00 am IST on June 12 (Sunday), with packages A and B going under the hammer first. The media rights have been categorized into a total of four packages by the Board of Control for Cricket in India (BCCI) this time around.

Package A includes TV rights for the Indian subcontinents while Package B includes digital rights for the Indian subcontinent. Package C is a special 18-game package including weekend games and playoffs, while Package D includes rest of the world TV and digital rights.

Although the IPL media rights auction is not televised, according to the latest reports, the combined bidding for packages A and B has already crossed the 42,000 crore mark (approximately $5.3 billion) and interested parties are still locked in an intense battle. to secure media rights for the next five-year cycle.

Read also : With $12 million per game, IPL is only behind the NFL as the 2nd most lucrative sports league in the world

With auctions hitting the $5.3 billion mark, they have already more than doubled their value over the last five-year cycle. Star had purchased the IPL media rights for the 2018 to 2022 cycle for a sum of Rs 16,347 crore (about $2.5 billion) at the time.

When will the winner of the IPL Media Rights Round 2023-27 be declared?

The bidding war on day 1 of the auction, i.e. Sunday, June 12, will continue until 6 p.m. IST. The auction will then move to the next day and the winner will not be announced until after the bidding war for all four packages has ended. The result of the auction should arrive late Monday or Tuesday.

Read also : IPL generates more revenue than English Premier League, claims BCCI chairman Sourav Ganguly

The base price of the combined IPL media rights has been set at around Rs 32,890 crore (approximately 4.2 billion USD), however, it has already crossed the Rs 42,000 crore (5.3 billion USD) mark with the packages C and D yet to go under the hammer. . At the end of the electronic auction for IPL media rights, BCCI can expect the value of the tournament to increase significantly and rank among the most lucrative sports leagues in the world.

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Post expires at 12:27pm on Wednesday June 22nd, 2022

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