The Board of Control for Cricket in India (BCCI) has reaped a total revenue of ₹48,390 crore through Indian Premier League’s (IPL’s) media rights.
At the end of intense bidding over three days through e-auction, BCCI secretary Jay Shah announced the winning bidders on Tuesday.
Star India has bagged the television rights for ₹23,575 crore, while the Viacom 18-led combine has been awarded the digital rights for Indian sub-continent at ₹23,758 crore. The rest of the world rights were divided between Viacom 18 and Times Internet Ltd. for a total figure of ₹1,057 crore.
It is understood that while Viacom 18 had the highest bid for three of the five global territories (sub-Sahara, Europe and South East Asia & Oceania), the Times group was awarded the remaining two territories (Middle East and US).
Referring to the development as a “red-letter day” for Indian cricket, Shah claimed the IPL has emerged as the second most valuable sports league globally. “No cricket property in the world has been sold for such a high value and it is with immense pride that I share that IPL today is the second most valuable sports league in the world. In just 15 years, the IPL has moved ahead of the globally popular English Premier League, Major League Baseball (MLB) and The National Basketball Association (NBA),” Shah wrote in a letter to BCCI affiliates, accessed by Sportstar .
“It is indeed a proud moment to see that a league designed and conceptualissed in India is now the second-most lucrative sports property.”
It will be for the first time that the IPL will be broadcast by different players on television and on the digital platforms. Despite the setback, Rebecca Campbell, chairman, International Content and Operations, The Walt Disney Company, stated that the company is “pleased to extend our association with the Indian Premier League and look forward to offering the next five seasons across our portfolio of television channels.”
Campbell hinted that Disney Star will now turn its focus on retaining the International Cricket Council rights and the rights for international cricket in India.
“We will be exploring other multiplatform cricket rights, including future rights for International Cricket Council (ICC) and Board of Control for Cricket in India (BCCI), which we currently hold through the 2023 and 2024 seasons, respectively,” Cambpell said.
Shah, meanwhile, spelt out his vision for the roadmap ahead. “It is now time to look ahead and plan systematically for our next phase. I firmly believe that the revenue we generate from IPL must percolate down the pyramid and help us in strengthening our grassroots level and our age-group cricket. The true progress of Indian Cricket will be measured by our international performances both in men’s and women’s cricket,” he wrote in the letter.
“We have to ensure that the benefits of IPL reach both ex-cricketers and also future stars, who harbour the dreams of taking up the game professionally. As the biggest cricket Board in the world, the BCCI has a duty of promoting the game and helping it grow globally. The BCCI also helps other Member Boards in times of crisis and does its best to help them out.”