IPL Announces Record-breaking Rights Auction
The combined global broadcast rights for the Indian Premier League (IPL) have been sold for a record £5.13bn to a range of broadcasters, with digital rights exceeding the value of TV.
The rights to the 2023-2027 cycle of the annual T20 cricket tournament were sold via e-auction, which began on 12th June and concluded 14th June, with the sale of four specific packages on offer.
Package A was TV rights in the Indian subcontinent, package B was digital-only broadcast in the same region, package C was 18 games per season in the digital space, while D was combined TV and digital rights in overseas markets.
Walt Disney Company-owned Disney Star retained the TV rights in the Indian subcontinent for £2.53bn, while Indian media and entertainment company Viacom 18 secured streaming rights in the same region for £2.17bn, plus a non-exclusive package of 18 to 22 high-profile games, which includes the playoffs and the final for £345m.
Viacom 18, backed by Indian billionaire Mukesh Ambani’s Reliance and Paramount, also secured the TV and digital rights in three overseas territories – Australia and New Zealand, South Africa and the UK – for £88m.
In total, the auction for the media rights sold for nearly three times what Star India paid in 2017 for the past five-year cycle.
Board of Control for Cricket in India (BCCI) Honorary Secretary, Mr Jay Shah said, “It gives me immense joy and makes me proud that IPL has grown to what it is today. The e-auction today has catapulted IPL into the big league in terms of per match media rights value. We ensured that the process was transparent and fair to all stakeholders. I congratulate all the winners and thank the bidders for participating in the e-auction process. I also express my gratitude to the market forces for believing in the brand and showing their faith and confidence in BCCI to take IPL to newer heights. I am sure, together, we will keep adding value to brand IPL and make it the biggest sporting league in the world in terms of revenue, participation and performance.
“The whole idea is to balance cricket and commercial interests as BCCI is committed to developing sports in the country through cricket. The money we generate through media rights will ultimately benefit grassroots cricket in India and that is what ultimately matters. The BCCI is also committed to launching the Women’s IPL in 2023 apart from creating maximum opportunities for the growth of women’s cricket in the country. In BCCI’s attempt to ensure that sports should travel beyond cricket, it is also setting up indoor sports academies in the Northeast and stadiums in select locations to promote sports in every nook and corner of the country. The BCCI will also build a resource pool to provide pension and financial aid to former players and widows of cricketers.”
According to a statement from the IPL, ‘Argus Partners was the legal advisor to BCCI and assisted in the entire tender process. KPMG was the advisor to BCCI. Mjunction Services Limited provided the platform for the smooth conduct of the e-auction.’
The 2022 edition of the IPL concluded 29th May and was won by the Gujarat Titans. The 2023 tournament is tentatively scheduled to take place between 25th March to 28th May.
