The Indian Premier League has reportedly created history after the media rights for one match went past Rs. 100 crore during the bidding. The TV and digital rights have reportedly been sold for a whopping Rs. 44,075 crore. The cost of media rights for a single match in the just-concluded season was Rs 55 crore per match. The same now stands at Rs 107.5 crore.News agency ANI reported that two separate media houses have won both the TV and digital rights.
This means the cost of every single IPL match from 2023-27 will be more than Rs. 100 crore, which is a phenomenal record in Indian sports. This will make the IPL the second most expensive sporting event in the world after the NFL. With these numbers, the IPL has already beaten English Premier League.
According to reports, package A of TV was sold at Rs 23,575 crore which is Rs 57.5 crore per match and Package B of digital rights for India was sold at Rs 20,500 crore which is Rs 50 crore per match.
Cricket commentator Harsha Bhogle had earlier tweeted, ” For bidders at the IPL Media Rights, it could well be a case of damned-if-you-do-and-damned-if-you-don’t at these prices. For team owners at the IPL, the party has begun.”
— Harsha Bhogle (@bhogleharsha) June 12, 2022
There are currently 10 teams in the IPL with each team playing twice before the play-off stage when four teams with the most number of points lock horns for the top glory. Gujarat Titans are the reigning champions of the IPL.
Although the names of the two winners are not announced, there are reports that they are two separate entitites. In a more twist, it’s expected that the winner of TV rights will attempt to buy the digital rights from its rival bidder.
Amazon had earlier pulled out of the race.
Sony had won the IPL media rights for Rs. 8,200 crore covering a period of 10 years starting from 2008. The IPL sold its global digital rights to Novi Digital for Rs. 302.2 crore in 2013.
Star India won the media rights for a period of five years for a whopping Rs. 16,347.50 crore in 2017.