The Indian Premier League (IPL) Media Rights for the next five years (2023-27) touching astronomical highs has sparked hectic activity on social media, with fans positing memes, franchises congratulating the Indian cricket board and several others saying that the BCCI should now be listed on the stock market.
For the first time, the BCCI split the IPL’s TV and digital rights, offering the bidders four packages: (A) Indian subcontinent TV, (B) Indian subcontinent digital, (C) Indian digital non-exclusive special package and (D) Rest of the world TV and digital.
Sony was the Rights holder for 10 seasons (2008-2017) and forked out ₹8,200 crore. And when Star bagged the rights for the next five years (2018-2022) the money almost doubled. With the financial windfall for the next cycle (2023-2027) now in public domain, and touching ₹48,390 crore, it makes BCCI one of the richest sports bodies in the world.
Now, STAR India has retained the TV rights for the Indian subcontinent while Reliance-backed Viacom18 bagged the digital rights for the 2023-27 cycle of the Indian Premier League (IPL), which has become one of the most valuable sporting properties in the world.
IPL franchises were quick to congratulate the BCCI on the huge achievement, with the Punjab Kings co-owner Preity Zinta tweeting, “Congrats & a Big THANK U to @JayShah @SGanguly99 @ThakurArunS & everyone at BCCI & KPMG Corporate Finance — specially Srini for this blockbuster jump in #IPLMediaRights. Today is a very special day for IPL fans, cricket lovers & for every Indian. #MadeinIndia #IPL #JaiHind.”
The BCCI brass, including its president Sourav Ganguly, who were present in Mumbai, were delighted by the outcome.
Renowned commentator Harsha Bhogle put things in perspective on how big a deal the BCCI had struck, saying, “To put it in perspective, the ₹3273cr that Viacom has paid out only to secure exclusivity for those additional 18 games (though over 5 years) is what Star was paying for all the rights per year (in 2018-2022 cycle). #IPLMediaRights.”
“I am thrilled to announce that STAR INDIA wins India TV rights with their bid of ₹23,575 crores. The bid is a direct testimony to the BCCI’s organizational capabilities despite two pandemic years,” BCCI secretary Jay Shah tweeted.
A total of 410 matches have been spread across five years with the BCCI earning ₹118 crore per match.
Soon after the numbers were made official, a meme fest ensued, with a fan posting an image of two burly guards sleeping on a pile of greenbacks, and wrote, “BCCI Right Now.”
Yet another fan pointed out the growing clout of digital platforms, given that it had helped BCCI earn ₹23,773 crore for the next IPL cycle of five years.