IPL TV, digital rights sold for Rs 44,075 crore; becomes world’s 2nd richest league
Mumbai, June 13: The IPL media rights value for the 2023-2027 cycle has been sold for a whopping Rs 44,075 crore for 410 matches, sources in the ongoing e-auctions said on Monday.
According to the latest update, Package A of TV has been sold at Rs 23,575 crore which is Rs 57.5 crore per match, while Package B of Digital Rights for India is sold at Rs 20,500 crore which is Rs 50 crore per match.
The details of who bid what are still being worked out, but the per match TV and digital rights are valued at Rs 107.5 crore. According to sources, the bid was won by two media houses, one for television and the other for digital. The value of media rights has increased by more than two-and-a-half times since Star India paid for them in 2017.
The process was split into four packages (A, B, C and D). Package A was exclusive for TV (broadcast) for the Indian subcontinent, whereas package B is for digital-only grouping for the same region.
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.
For each package, each bidder placed a separate bid. Bidders for Package A must have a net worth of Rs 1,000 crore, while those bidding for other packages must have a net value of Rs 500 crore.
The country's largest media giants were bidding for the right to broadcast the world's richest cricket league on their platforms.
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-PTC News
