IPL media rights sold for Rs 48,390 cr; BCCI calls it 'red-letter day' for Indian cricket

The Board of Control for Cricket in India (BCCI) is all set to earn more than Rs. 48,300 crore from the media rights of the Indian Premier League (IPL) from 2022 through 2027. BCCI secretary Jay Shah confirmed that Disney's Star Sports Network has acquired the IPL's Indian subcontinent TV rights for a hefty sum of Rs 23,575 crore, while Viacom 18 has secured the lucrative league's digital rights for Rs 20,500 crore. These rights were sold under Package A and Package B on Monday. 

Meanwhile, Viacom 18 has won the rights to Package C as well with a winning bid of Rs. 3,273 crore. The non-exclusive digital rights to select matches are included in Package C. As a result, Viacom 18 has acquired the whole digital rights package for Rs 23,758. Package D of the IPL media rights were sold for Rs 1,058 crore.

IPL Media rights sold for a mammoth Rs 48390 crore

Viacom 18 won the right to broadcast IPL in Australia, South Africa and United Kingdom. Times got the rights for MENA & United States and rest of the world in Package D. 

"Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per match value," Jay Shah tweeted. 

"The BCCI will utilize the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India and enrich the overall cricket-watching experience. Now, it’s time for our state associations, IPL Franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder – ‘the cricket fan’ is well looked after and enjoys high quality cricket in world-class facilities," Shah continued while announcing the winners of the IPL media rights. 

IPL sees monumental growth in revenue

The growth in the value of IPL media rights has pushed the worth of each match to a little over Rs. 115 crore, making it the world's second most lucrative sporting league after the NFL. In the previous cycle, the TV and digital rights were both purchased by Star for Rs 16,347.50. That price has now increased to over Rs. 48,300 crore, a massive jump in just a five-year period. 

Image: BCCI