IPL Bidding Wars Surpass £4 Billion
According to multiple reports, the first day (12th June) of bidding for rights to the Indian Premier League (IPL) has already seen their value increase by more than two and half times when compared with the previous five-year cycle.
The e-auction for rights to the 2023-2027 cycle of the IPL resumes today (13th June) with, four specific packages – A, B, C and D – up for sale.
Package A is for TV rights in the Indian subcontinent, package B is for digital-only broadcast in the same region, package C is for 18 games per season in the digital space, while D is for combined TV and digital rights in overseas markets.
In 2017 Star India bought the combined IPL media rights for the 2018-2022 cycle for approximately $2.05bn. According to reports, the bidding has already surpassed the £4.3bn mark, making the annual T20 cricket tournament one of the most expensive sporting leagues in the world.
The full result of the auction is expected to be announced on Monday 13th or Tuesday 14th June.
