BCCI will earn Rs 2.95 crore from every over in IPL!
For the next five years (2023-27) the Indian Premier League (IPL) media rights touched astronomical heights as the Board of Control for Cricket in India (BCCI) sold them for Rs 48,390 crore. Disney Star retained the TV rights (Package A) for Rs 23,575 crore which is Rs 57.5 crore per match, while Viacom18 acquired the digital assets for Rs 23,758 crore (Package B & C). Viacom 18 also got the rights for the AUS, SA, UK regions in Package D while The Times got MENA and US.
Notably, Sony was the rights holder for 10 seasons (2008–2017) and paid Rs 8,200 crore. And the money almost doubled when Star got the rights for the next five years (2018-2022). The financial gains for the next cycle (2023-2027) are now in the public domain, and with touching Rs 48,390 crore, this makes BCCI one of the richest sports bodies in the world.
Interestingly, a total of 410 games will be played over a period of five years – IPL 2023 to 2027. So, as per calculations, each IPL match played during the mentioned period would cost Rs 118 crore, while each over bowled (excluding Super Over) would cost Rs 2.95 crore. Each ball bowled in the tournament will cost Rs 49 lakh.
The world’s richest cricket board is getting richer as each IPL match from 2023 will help them earn Rs 118 crore, which is almost double (1.96 times) of India’s domestic game. According to the five-year deal acquired by Star India in 2018, the average price of each home game in India is Rs 6,138 crore – Rs 60 crore.
It is worth noting that the BCCI was earning around Rs 55 crore from every IPL match from 2018-22 last year.
In a first-of-its-kind e-auction conducted by the BCCI for three days, Disney-Star retained the TV media rights, while Viacom18 won the digital assets of the 2023–27 cycle of the Indian Premier League for the Indian subcontinent.
News: BCCI announces successful bidders to acquire media rights for Indian Premier League season 2023-2027. #TATAIPL
More info https://t.co/pX9PHQQ1UK
— Indian Premier League (@IPL) June 15, 2022
Notably, for the first time ever, the BCCI had split the TV and digital rights of the IPL, offering four packages to the bidders: (a) India Sub-continent Television, (b) India Sub-continent Digital, (c) India Digital non-exclusive special packages and (d) the rest of the world.
The auction started on 12th June at 1100 hrs with packages A and B. The bidding started at a base price of Rs 49 crore for TV rights and Rs 33 crore for digital rights and the parties had up to 30 minutes between bids. The bidders quoted a figure on a per match basis, with the Minimum Bid Increment (MBI) price being fixed at Rs 50 lakh.