Day 2: At ₹46,000 crore, IPL media rights bidding sets new record
The Indian Premier League (IPL) media rights for the next five-year cycle (2023-2027) have been sold for more than ₹46,000 crore so far and the e-auction is still not completed, according to multiple reports.
The e-auction which started on Sunday is expected to end on Tuesday (June 14).
As per reports, the total value of IPL media rights has reached ₹39,775 crore for both TV and digital for 370 matches (74 per season). This makes the combined value of one IPL match ₹107.5 crore.
Also read: IPL media rights e-auction guide
However, there were other reports which said the total number of matches to be 410 over the next five years, assuming the BCCI will increase after the two years.
If you calculate the combined amount for 410 games, then the value of the two packages will rise to ₹44,075 crore.
The bids for packages C (‘special package’ with 18-match, non-exclusive digital package) and D (overseas TV and digital rights) will be finalised on Tuesday, reports said. On Monday, package C had fetched a bid of ₹1,700 crore and the bidding process will continue tomorrow.
As of Monday, the total value of IPL media rights packages has crossed ₹46,000 crore, according to reports.
So far, the Board of Control for Cricket in India (BCCI) has not made any official announcement.
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This time, the BCCI had divided the media rights into various packages unlike a composite bid in the previous years.
Now, for Package A (TV rights for the Indian subcontinent), the highest bid has been ₹57.5 crore per match (total value ₹21,275 crore for 370 matches). And for digital (Package B), it is ₹50 crore (total value ₹18,500 crore for 370 matches). The total value for two packages is now ₹39,775 crore, as per reports.
In the previous cycle (2007-2022), Star India had paid ₹16,347.5 crore for a combined bid for TV and digital.
Now, the combined value has jumped to more than double.
On Twitter, Indian cricket fans were excited with the media rights e-auction and many said Star Sports Network had won the bid for TV rights and Viacom18 for digital.
‘IPL generates more revenue than the EPL’
Looking at the numbers from the e-auction, former India cricketer Aakash Chopra said IPL had become “the second most lucrative sporting property in the world”.
“IPL becomes the second most lucrative sporting property in the world. Wow. That’s when India is a ‘developing country’ and is apparently, not a ‘sporting nation’ either. The potential of our nation is limitless. Extremely proud. Jai Hind,” Chopra tweeted.
IPL becomes the second most lucrative sporting property in the world. Wow 🤩
That’s when India is a ‘developing country’ and is apparently, not a ‘sporting nation’ either. The potential of our nation is limitless. Extremely proud 🤩🥳🤗 Jai Hind 🇮🇳— Aakash Chopra (@cricketaakash) June 13, 2022
Another ex-Indian cricketer Sanjay Manjrekar wrote on Twitter, “The IPL auction revealing the obvious. The might of the Indian economy! And as Indians, let us be proud of it!”
The IPL auction revealing the obvious. The might of the Indian economy! And as Indians, let us be proud of it!#IPLAuction
— Sanjay Manjrekar (@sanjaymanjrekar) June 13, 2022
Recently, BCCI President and former India captain Sourav Ganguly had claimed that IPL generates more revenue than the English Premier League (EPL) football.
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At the India Leadership Council event, Ganguly said, “I’ve seen the game evolve, where players like me earned a few hundreds and now have the potential of earning crores. This game is run by the fans, by the people of this country, and by the BCCI, which was formed by cricket fans. This sport is strong and will continue to evolve. The IPL generates more revenue than the English Premier League. It makes me feel happy and proud that the sport I love has evolved to become so strong.”
