IPL bidding rights for TV soars past ₹42,000 crore, more surge expected

The details of who bid what are yet to be released but as per news reports the value for per match TV, as well as streaming value have already surpassed ₹100 crore mark.

The bidding for Indian Premier League media rights for the 2023-27 cycle has moved beyond ₹42,000 crores. As per a report in ANI, BCCI sources are expecting it to peak even higher.

Image used for representational purpose (Twitter)

Meanwhile, th bidding has already touched nearly three times more than what Star India paid in the year 2017.

The details of who bid what are yet to be released but as per news reports the value for per match TV, as well as streaming value have already surpassed ₹100 crore mark.

The process has been divided into a total of four packages (A, B, C and D). Package A is exclusive for TV (broadcast) for the Indian subcontinent while package B is for digital-only grouping for the same region.

There are four specific packages in which e-auction is being conducted or 74 games per season for a five-year period with a provision of increasing the number of matches to 94 in the final two years.

Package C is for 18 selected games in each season for digital space. In Package D, all games will be for combined TV and digital rights for overseas markets.

All bidders are making separate bids for each package. Bidders for Package A must have a net worth of ₹1000 crore; it is ₹500 crore for those bidding for other packages.

This year, global giants like Zee Entertainment Enterprises Limited (ZEEL), Reliance-Viacom 18, Disney Star Network and Sony Network are in the fray to grab the rights to the event.

-with ANI inputs