IPL media rights auction day 2 highlights: BCCI on track to earn way over ₹50,000 crore
PremiumOn Day 2, the IPL TV and digital rights were sold for ₹44,075 crore.
The Board of Control for Cricket in India (BCCI) is looking forward to the e-auction for the next five years of media rights for the Indian Premier League (IPL) (2023-27). On June 12, the first-ever media rights e-auction began. The process will take time, and the eventual bidder's name may not be revealed for several days.
On Day 2, the IPL TV and digital rights were sold for ₹44,075 crore. Even though there was no official confirmation on the names of the bid-winners, media reports suggested that Sony won TV rights for ₹23,575 crore and Viacom18 won digital rights for ₹20,500 crore.
The Indian television rights were sold for ₹57.5 crore per match while the internet rights were sold for ₹50 crore per match. The value of TV and internet rights for each match is ₹107.5 crore.
Also Read: IPL media rights day 2 updates
The BCCI allowed the prospect of the e-auction continuing into the following few days, therefore there is no deadline for the IPL media rights e-auction, which will go on until all offers are received.
This is the first time an e-auction is being held to determine who will be awarded the IPL media rights. Unlike the closed bidding of 2017, participants in the e-auction just have to decide whether or not to continue bidding after a certain stage.
Bidding for the non-exclusive rights and international broadcasting rights started on June 13. However, as expected, the bidding process turned out to be lengthy and would continue on June 14. The bid for non-exclusive rights is ₹17 crore per game, ANI reported citing sources. The BCCI earlier set the base price of the same at ₹16 crore.
Seasoned cricket commentator Harsha Bhogle said earlier in the day that the party had begun for IPM team owners. However, for bidders, it could well be a case of damned-if-you-do-and-damned-if-you-don't at those prices - Bhogle added.
Star paid the BCCI ₹16,347 crore in 2017. Because the base price of IPL media rights is ₹32,890 crore, the BCCI was projected to get at least twice as much money this season. The BCCI is on track to earn considerably more than ₹50,000 crore now that TV and digital rights have been auctioned for ₹44,075 crore (almost three times what Star paid in 2017).