IPL media rights sold for Rs 48,390 crore for a five-year period

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Disney’s Star has retained the Indian Premier League’s (IPL) television rights for the Indian subcontinent for the 2023-27 cycle in a deal worth 235.75 billion Indian rupees ($3.02 billion).

Digital rights for the annual Twenty20 tournament went to Viacom 18 for 237.58 billion Indian rupees ($3.05 billion). The BCCI received 483.9 billion Indian rupees ($6.20 billion) overall from the media rights for the five-year period.

Star India, owned by Walt Disney Co, had paid 163.48 billion Indian rupees ($2.09 billion) for the combined television and digital rights of the league’s previous five-year cycle.

“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.

With IPL now a 10-team tournament and the duration of the league expected to be further stretched, the 2023-27 media rights deal is expected to break new ground.

An early indicator of Brand IPL growing despite the pandemic lull was the sale of two new teams earlier this year: BCCI earned a total of $1.7 billion, with the Lucknow franchise going for 250 per cent more than the base price.