BCCI’s big payday is here.
The e-auction of broadcast rights for IPL witnessed some insane bidding for the next 5-year cycle (2023-27).
BCCI was in for the biggest bonanzas in the world of sports as it pocketed a value north of $5.8 billion (Rs.43,000+ crore) from the sale of its marquee IPL media rights. All this at the end of a stressful and long Sunday of offers and counter-bids. And it was only the first day. The second day of action began on Monday, and the total sum is yet to be revealed.
To tickle our fancy further, India’s coveted cricket league is now the runner-up in terms of per match value after the US’s NFL ($17 million). Having surpassed other top leagues in the world like NBA and MLB, Day 2 of the e-auction is set to throw up bigger numbers.
What’s in the Package?
Packages A and B are television and digital groupings for the Indian broadcast region. Bidders for Package A must have a net worth of Rs.1000 Cr, while Rs.500 Cr is the eligibility for those bidding for other packages.
Package C has 18-game non-exclusive special matches (base price of Rs.11 Cr), and package D is the rest of the world rights (base price of Rs.3 Cr).
The cat is not out of the bag yet. So far, we only know that Viacom 18 bagged Package B that covers digital rights for the Indian sub-continent.
Global giants like Zee, Reliance-Viacom 18, Disney Star Network, and Sony are in the fray to grab the rights to the event.
The Last Laugh
Ahead of bidding, fans started showering support for Sony’s win, while some memes around Amazon pulling out from the IPL auction tickled our funny bone.
Too long? Here’s a one-liner: The first day of e-auction for IPL’s media rights concluded on Sunday as bids touched $5.8 billion; Viacom 18 bags the digital rights while other winners are yet to be revealed.