IPL media rights auction: Bidding price goes past Rs 42,000 cr; expected to go higher

Mumbai, June 12: The IPL media rights value for the 2023-2027 cycle has surpassed Rs 42,000 crore and is anticipated to go even higher, said BCCI sources. This is nearly three times the amount paid by Star India in the year 2017. The details of who bid what are still undisclosed, but the value of each match TV and digital rights has surpassed Rs 100 crore. The process has been split into four packages (A, B, C and D). Package A is exclusive for TV (broadcast) for the Indian subcontinent, whereas package B is for digital-only grouping for the same region. Also Read | 'Will not allow centralisation of Panjab University': State Education Minister Hayer There are four specific packages for which an e-auction is being held, or 74 games per season for five years with a provision of upping the number of matches to 94 in the final two years. Package C includes 18 games for each season in digital space, whereas all games in package D will be for combined TV and digital rights in international markets. Each package receives a separate bid from each bidder. Bidders for Package A must have a net worth of Rs 1000 crore; those bidding for other packages must have a net value of Rs 500 crore. This year, global giants such as Zee Entertainment Enterprises Limited (ZEEL), Reliance-Viacom 18, Disney Star Network and Sony Network are in the race to get the rights to the event. Also Read: Massive fire breaks out in Delhi's Karol Bagh -PTC News