Highlights:
- Star India won the broadcast media rights to the IPL for 2023-2027 cycle
- The IPL broadcast media rights was sold to Sony Network for the 2023-2027 cycle
- IPL media rights have brought total of Rs 48,390 crore to BCCI
BCCI secretary Jay Shah announced the winning bidders
On June 14, BCCI secretary Jay Shah announced the winning bidders after three days of intense e-auction bidding.
The television rights for the Indian subcontinent have been awarded to Star India for Rs 23,575 crore, while the digital rights for the Indian subcontinent have been awarded to the Viacom 18-led consortium for Rs 23,758 crore. Viacom 18 and Times Internet Ltd. were given the rest of the world rights for a total of $1,057 crore.
The Times group was awarded the remaining two territories, despite Viacom 18 having the highest bid for three of the five global territories (Sub-Saharan Africa, Europe, and South East Asia & Oceania) (Middle East and US).
IPL become world’s second most valuable sports league
Shah described the development as a “red-letter day” for Indian cricket, claiming that the IPL has become the world’s second most valuable sports league. “No cricket property in the world has ever been sold for such a high price, and it is with great pride that I share the news that the IPL is now the world’s second most valuable sports league.”
The IPL has surpassed the globally popular English Premier League, Major League Baseball (MLB), and The National Basketball Association (NBA) in just 15 years,” Shah wrote in a letter to BCCI affiliates, which Sportstar obtained.
