According to sources, the Package A and B of the right, which includes TV and Digital, has been sold for a humungous amount of Rs 43,050 crore.
The media rights for the lucrative Indian Premier League (IPL) for the next five-year cycle from 2023 to 2027 is currently being hotly contested by some of the country’s top sports broadcasters. According to sources, the Package A and B of the right, which includes TV and Digital, has been sold for a humungous amount of over Rs 43,000 crore. This puts the valuation of each IPL match, at a cost of above Rs 100 crore, something that is unheard of in Indian sports.
There could be more twists to the tale as the Package A and Package B of the media rights have been won by two companies. And according to latest information from sources, it has been learnt that the winner of package A is about to challenge the winner of Package B, with an eye on getting the entire TV and Digital rights combo.
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Global retail giants Amazon had earlier pulled out of the Indian Premier League media rights auction race, India casino sources had said on Friday.
Star India had edged out Sony Pictures to secure the Indian Premier League’s media rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017. With this deal, the cost of an IPL match had become around Rs 55 crore.
In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years were awarded to Novi Digital in 2015 for 302.2 crore.
The tournament was expanded from eight teams to ten teams this year with Gujarat Titans and Lucknow Super Giants being included from the 2022 season. Gujarat Titans went on to win the tournament in its maiden season last month.
