The Board of Control for Cricket in India has announced the tender process for the Indian Premier League media rights for the five year 2023-2027. The decision on the IPL media rights tender process was made at the IPL Governing Council meeting today (Tuesday).
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” the board secretary Jay Shah said in a statement.
Star India holds the IPL media rights until 2022. India’s leading sports broadcaster has acquired the rights in 2018 with a jaw-dropping ₹ 16,348 crore bid for a five year cycle. This was more than 400% gain for the BCCI in the IPL media rights revenues. Sony Pictures Sports Network had been paying an average ₹ 820 crore per annum. Sony had paid ₹ 8,200 crore for broadcasting the IPL ever since its inception in 2008 till 2017.
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The league from the next season will be a ten-team affair. With more games to be played and a certain raise in brand value, the BCCI will be expecting at least a 100% raise in the media rights value. Various reports are projecting the media rights value between ₹ 25,000 crore and ₹ 42,000 crore for the five year cycle, amounting to between ₹ 5,000 crore and ₹ 8,000 crore per annum.
Incumbent Star India, Sony Pictures Networks India and Reliance Industries-backed Viacom 18 will be the key contenders for the rights, with the possible entry of global OTT players.
The media rights process will be initiated immediately after the announcement of the two new IPL franchisees.
The IPL is the most expensive media rights property in cricket, followed by the International Cricket Council major global events and the BCCI.
Presently Star India is paying ₹ 11,800 crore – ₹ 1,475 crore per annum – for the ICC media rights for the 2016-2023 eight-year cycle. Star also holds the BCCI rights, having made a successful ₹ 6,138 crore bid for a five-year period from 2018 to 2023.
The next two years are going to be interesting from the cricket media rights perspective as the ICC and the BCCI will be issuing tenders to find new broadcasters.
NEW TEAMS ON OCTOBER 25
Meanwhile, the BCCI will announce the two new teams for the IPL on October 25, taking the total team strength to 10.
The Narendra Modi Stadium in Ahmedabad and the Ekana Stadium in Lucknow could be the home ground choices for the new franchises. The Adani Group and the RPG Sanjeev Goenka Group are being tipped as the front runners to by the franchisees.