BCCI expects upto $5 billion from sale of IPL media rights for next five years

Presently, from the year 2018 to 2022, the TV and digital rights of IPL are with Star India

The Board of Cricket Council of India is set to earn a gigantic amount as the IPL broadcast rights of TV and digital platform could fetch the Board up to USD 5 billion for the next five-year cycle which is 2023 - 2027 and some high-profile interests is being seen in the bidding process for the two whole new teams in the upcoming Mega auction.

 

Presently, from the year 2018 to 2022, the TV and digital rights of IPL are with Star India. According to people who are in top decision-making position, the current valuation of the league is at ₹16,347.50 crore (USD 2.55 billion approx) and it could be more than double and reach USD 5 billion which is around ₹36,000 crore at current exchange rate.

 

"There is a well-known US based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases," a senior BCCI official.

 

Previously, Sony held the rights from 2008- 2017 and then Star India took over.

 

The cricket board is all set to release the Tender invitation in Dubai on 25 October and in the same day when two new IPL teams will also be announced. The board is expecting rapid bidding from both Star India and Sony, and whoever wins will get the IPL property back in its bouquet.

 

In a latest development, Manchester United owners Glazer family had also picked up IPL team bid document and is confirmed by a senior official.

 

The official IPL bid document costs 10 lakh and many business houses and big corporates buys the document just only to analyse the business prospects.

 

As per rumours, the Adani Group, Kotak, pharma majors Aurobindo and Torrent group, and the RP-Sanjiv Goenka group could bid for new IPL teams. The base price for new two IPL teams is set at ₹ 2000 crore.

 

Even there are rumours that a former India cricketer become a first time IPL team co-owner.

India Scanner News Network

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