The Board of Control for Cricket in India (BCCI) has found a new broadcaster of the Indian Premier League (IPL) for the forthcoming seasons. Out of the 24 participants of the media right auction, Star India turned out to be the highest bidder and bagged the broadcasting rights along with the digital rights with a Rs. 1,6347.50 crore deal.
There were 24 companies in the fray which picked up the Invitation To Tender (ITT) to participate in the bid for the broadcast and digital rights in global markets and across the Indian subcontinent for the next five years. The auction was live streamed on the official website of the Board of Control for Cricket in India (BCCI). It became a heated race as few of the bidders had to make premature exits as their documents were not up to the mark.
Earlier, the BCCI Chief Executive Officer (CEO) Rahul Johri described how the Indian cricket board would benefit from the auction as the revenue which will be generated could be historic. He said,”The revenue generated from the upcoming IPL media rights auction could be “historic”, considering the huge interest shown by various stakeholders. Estimates were BCCI could earn Rs. 2000 cr, which is a whopping amount.”
— BCCI (@BCCI) September 4, 2017
This edition of the IPL promises to be more exciting as franchises like Chennai Super Kings and Rajasthan Royals will make a comeback.
#iplmediarights Star wins all the broadcast right for IPl– India, Digital and Rest of the world
— exchange4media group (@e4mtweets) September 4, 2017
My Picks are Star for India TV & Jio for Digital. Let’s see who wins it. #IPLMediaRights
— Prabhu _ _ (@Cricprabhu) September 4, 2017
— Sorabh Pant (@hankypanty) September 4, 2017
Finally, the race boiled down to Star India and Sony for the TV broadcast rights, as only they had provided eligible bids, whereas for the digital rights Reliance Jio, Facebook, Times Internet and Airtel Presence was in the fray.