Five-year IPL media rights sold for Rs 48,390 crores

On Tuesday, BCCI Secretary Jay Shah announced that IPL media rights have been auctioned for Rs 48,390 crores for a five-year term. In a contract of 235.75 billion Indian rupees ($3.02 billion), Disney’s Star has secured the television rights to the Indian Premier League (IPL) throughout the Indian subcontinent for the years 2023-27. 

Viacom 18 purchased the digital rights to the annual Twenty20 event for a total of 237.58 billion Indian rupees, which is equivalent to $3.05 billion. For the five-year period, the BCCI got 483.9 billion Indian rupees ($6.20 billion) in total from media rights.

Star India, which is owned by Walt Disney Company, had spent 163.48 billion Indian rupees ($2.09 billion) for the league’s previous five-year cycle’s combined broadcast and internet rights. 

“The BCCI will utilise the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India,” tweeted BCCI secretary Jay Shah.

“We are pleased to extend our association with the Indian Premier League and look forward to offering the next five seasons across our portfolio of television channels. We made disciplined bids with a focus on long-term value.

“We chose not to proceed with the digital rights given the price required to secure that package. IPL is an important component of our portfolio of television channels in India, providing an incredible opportunity for us to showcase The Walt Disney Company’s powerful global brands and iconic storytelling, as well as Disney Star’s impressive collection of local original content, to millions of viewers in India,” said Rebecca Campbell, Chairman, International Content and Operations, The Walt Disney Company.

“We will be exploring other multiplatform cricket rights, including future rights for the International Cricket Council (ICC) and Board of Control for Cricket in India (BCCI), which we currently hold through the 2023 and 2024 seasons, respectively. Additionally, we hold Pro Kabaddi League rights, Indian Super League football rights, as well as various international sports rights, including the Wimbledon Championships and the English Premier League,” Campbell added.

Given that there are currently 10 teams competing in the Indian Premier League and that the length of the league is likely to be extended even further, the media rights contract for 2023–2027 is likely to set a precedent.