Board of Control for Cricket in India (BCCI) on Tuesday announced that the tender for media rights for the Indian Premier League’s (IPL) next cycle (2023-2027) will be released in October.
This decision was taken in the meeting held by the IPL governing council on September 28 (Tuesday).
“IPL media rights tender for the cycle 2023-27 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” a BCCI media release read.
Star India currently pays 54.5 crore Per Match to BCCI as IPL Media Rights Fees
Star India holds the current media rights for broadcasting the IPL matches. The firm had won both the television broadcast rights as well as digital streaming rights for a whopping sum of INR 16,347.50 crore for a duration of five years in 2017.
According to a report by The Times of India, BCCI wants the existing price of INR 54.5 crore for each match paid by Star to be set as the base price for the next media rights cycle.
Sony Pictures Network India paid Rs 8,200 crore for 10 years as IPL media rights amount
According to an old report by Economic Times, Sony Pictures Network India paid Rs 8,200 crore for 10 years in 2008 — Rs 820 crore a year. The television network made just under Rs 1,000 crore from sponsorships and advertisements in the 2015 edition of the league and in 2016, its revenue rose marginally to Rs 1,050 crore.
At the IPL governing council meeting, it was also decided that the last two league matches before the VIVO IPL 2021 Playoffs in the ongoing edition will be played at the same time.
On the last day of the league stage of IPL 2021, instead of having one match during the afternoon and another in the evening match, two matches will be played simultaneously at 7.30 PM IST.