The Board of Control for Cricket in India (BCCI) is set to get even richer – richer by billions – as the broadcast rights (TV and digital) for the next five-year IPL cycle, that is from 2023 to 2027, could fetch the board up to USD 5 billion, which is around Rs 36,000 crore at the current exchange rate.
Star India owns the current rights from 2018 to 2022 for which they are paying the BCCI Rs 16,347.50 crore (USD 2.55 billion). However, this number, according to people who are in the decision-making capacity, is likely to be more than double for the next cycle, because of the introduction of two new teams which will see the number of matches increase.
“There is a well-known US based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases,” a senior BCCI official told PTI on conditions of anonymity.
“But with two new teams about to fetch anything between ₹7000 crore to 10,000 crore, the broadcast rights are certainly going to shoot through the roof. So expect the IPL broadcast rights to go for anything above USD 4 billion and may be up to USD 5 billion,” the official in the know of things added.
BCCI expecting Star India, Sony to up their game in the competition for owning IPL rights
For the last time around, there were only two major broadcasters in TV and digital media rights market – Star India comfortably outbid Sony, who held the rights from 2008-2017.
Star had bid Rs 5300 crore more as Sony’s final composite bid was Rs 11,050 crore (USD 1.47 billion). Star India is a wholly-owned subsidiary of The Walt Disney Company India.
The BCCI normally categorises various broadcast deals like TV, digital (streaming), radio, and social media but last time, it allowed separate as well as one composite bid.
Any company can also bid separately but if the valuation of the singular composite bid is more than the cumulative amount of singular bids, then that will be considered by the board. The BCCI is expecting robust bidding from both Star India and Sony, who would like to get the IPL broadcasting rights back.
The BCCI is set to release the Tender invitation in Dubai on October 25, the same day when two new IPL teams will also be announced. It has also been learned that the Glazer Family, which owns Football club Manchester United, has picked up the bid document showing interest in owning an IPL team.