Tuesday, December 7, 2021

BCCI likely to get 36000 crore for 5 year broadcasting rights from 2023 to 2027

New Delhi. The Cricket Board of India (BCCI) may earn $5 billion from the broadcast (TV and digital) rights of the IPL in the next five-year cycle (2023-2027). Apart from this, with the arrival of two new teams in the IPL, many big names are in the race for the bidding process. Star India holds the broadcast rights for the IPL for the 2018 to 2022 cycle. Its ‘valuation’ at that time was around $2.5 billion, but in the next cycle this amount is expected to double (about Rs 36,000 crore).

A senior board official said, “A US-based company had expressed interest in bidding for IPL media rights sometime back. From 2022, there will be ten teams in the IPL and 74 matches will be done, which will increase its valuation. In the next cycle, the broadcast rights of IPL are likely to be in the range of $ 4 to 5 billion.

Any foreign company will get IPL media broadcasting rights only if it has an Indian branch. Last time TV and digital media rights were bought by Star India after defeating Sony. BCCI generally categorizes TV, digital (streaming), radio and social media rights but last time all rights were given to only one.

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Companies can also bid separately, but if the valuation of any one bid exceeds the amount of all other bids combined, then they will be given the rights. The board will announce the invitation of tenders in Dubai on October 25. Two new IPL teams will also be announced on the same day. The Glaser family, owner of Manchester United, has also taken the IPL team auction document.

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