BCCI is poised to launch bids for the IPL rights for 10 teams for the 2023-2027 cycle as early as next week and to complete the e-auction in two months, Secretary Jay Shah said.
IPL 2022 will have 10 teams including 2 new franchises from Lucknow and Ahmedabad (Courtesy of BCCI)
- The IPL media rights for the 2023-27 cycle will be sold in 2 months
- Industry sources expect it to fetch up to Rs.500 billion
- Star India paid Rs.163.48 billion for the 2018-22 cycle
The Secretary of the Board of Control for Cricket in India (BCCI), Jay Shah, said on Sunday that the value of the Indian Premier League’s media rights, particularly after the addition of two new teams, is a testament to the T20 league’s unprecedented growth will be.
BCCI is poised to launch bids for the 10-team IPL rights for the 2023-2027 cycle as early as next week and to complete the e-auction in two months, Shah added.
“Brand IPL’s target value has exceeded any and all expectations,” Shah said, as quoted by Reuters.
He declined to discuss any dollar numbers, but said, “The valuation will reflect the rise and growth of the league.”
IPL 2022, which is expected to start from March last week, will have two new teams in Lucknow Super Giants owned by RP Sanjiv Goenka Group while Ahmedabad Titans is owned by CVC Capital.
According to the news outlet, industry sources expect it to fetch up to 500 billion rupees ($6.7 billion).
Shah added that the board had been examining various models and proposals with the expectation that separate TV and digital offerings would be considered.
This would mean that this time an offer could be accepted from Amazon.com Inc. AMZN.O with only one digital platform, after the BCCI selected a consolidated offer for TV and digital in 2017.
Star India, owned by Walt Disney Co DIS.N, paid Rs.163.48 billion for the 2018-22 cycle.
“Two new teams mean more opportunities for the entire cricket ecosystem. You can gauge interest by scoring for two new teams,” Shah said.
“In just 14 seasons we have recorded unprecedented numbers that other popular leagues have matched after decades,” Shah said. “Not just TV, look at the numbers on digital.”
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