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IPL Media Rights Auction: TV Rights Sold for Rs 57.5 crore, Digital Rights Sold for Rs 48 crore, as per reports

-By ArdorComm News Network

The Board of Control for Cricket in India (BCCI) has reportedly selected a winner for the Indian Premier League (IPL) media rights for the 2023-27 cycle after hours of intense bidding over two days. According to sources, the television rights for each match were sold for a hefty Rs 57.5 crore (per match) and the internet rights for Rs 48 crore (per match). However, neither the governing council nor the Indian cricket board have issued an official statement, and the winner’s name has not been revealed.

It was also discovered that while the winner of the TV rights has been determined, the winner of the digital rights remains uncertain. The TV winner has the opportunity to contest the highest digital bid, according to the auction regulations. As a result, if the bidders are different, a rebid may be required.

The auction for TV and internet rights of the Indian subcontinent saw a brisk bidding on Sunday, according to news agency PTI, with the valuation per match of the cash-rich league designated at more than a whopping Rs 100 crore.

With the auction already in its second day, the total value of the media rights might easily surpass Rs 50,000 crore, making it one of the most valuable in terms of worldwide rights for any sport.

Viacom18, Disney-Star, Sony, and Zee, four of the seven parties in the contest, were embroiled in a near seven-hour slugfest that ended in a tie, with Package A (India TV Rights) and Package B (India Digital Rights) fetching upwards of 42,000 crores (5.37 billion USD) and counting.

Source: With Agency Inputs


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