IPL becomes world's 2nd richest league with media rights
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The Indian Premier League (IPL) Media Rights for 2022 to 2027 have been sold for Rs 43,050 Crore (Digital and TV combined), reports claimed, adding that the television and digital broadcast rights have been won by two different companies.
With this, the Indian Premier League (IPL) now become the second most valued sporting league in the world, surpassing English Premier League (EPL) and National Basketball Association (NBA).
This puts the valuation of each IPL match, at a cost of above Rs 100 crore, something that is unheard of in Indian sports.
According to the latest information from sources, it has been learned that the winner of package A is about to challenge the winner of Package B, with an eye on getting the entire TV and Digital rights combo.
Global retail giants Amazon had earlier pulled out of the Indian Premier League media rights auction race, NDTV sources had said on Friday.
Star India had edged out Sony Pictures to secure the Indian Premier League's media rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017. With this deal, the cost of an IPL match had become around Rs 55 crore.
In 2008, Sony Pictures Network won the IPL media rights for a period of 10 years with a bid of Rs 8200 crore. The global digital rights of IPL for a period of three years were awarded to Novi Digital in 2015 for 302.2 crores.
The tournament was expanded from eight teams to ten teams this year with Gujarat Titans and Lucknow Super Giants being included from the 2022 season. Gujarat Titans went on to win the tournament in its maiden season last month.
