IPL Media Rights auction: Star India wins rights for Rs 16,347.50 crore
Mumbai: Star India won the IPL media rights from 2018-2022 for a whopping Rs 16,347.50 crore. The announcement was made in the bidding process which took place in Mumbai on Monday. Star and Sony Pictures Network India were the only two eligible bidders for IPL rights to the Indian television market.
So #StarSports wins global rights for @IPL I would've hoped a larger figure Deserved greater value after 10yrs of success #IPLMediaRights pic.twitter.com/F5Gw0lVZ4b
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
The bids which was divided into television and digital rights witnessed several big companies like Facebook, Amazon, Twitter, Yahoo, Reliance Jio, STAR India, Sony Pictures, Discovery, Sky, British Telecom and ESPN Digital Media purchasing the bid. Star India eventually saw their bid accepted after Sony had bid for 11,050 cr .
Here are the final figures for IPL Media Rights for the period from 2018-2022. #IPLMediaRights pic.twitter.com/2y1m0X4701
— IndianPremierLeague (@IPL) September 4, 2017
The bidding process for the broadcast of the most marketable product in cricket, Indian Premier League (IPL) has gotten underway on Monday, in Mumbai, with 13 bids already being accepted.
So 16347 crores is what it goes for to @StarSportsIndia well done and many congrats!! Bid along expected lines. Great result for @BCCI
— Boria Majumdar (@BoriaMajumdar) September 4, 2017
Out of the 24 companies that appeared for the bidding process, only 14 went forward with their bids.
Regular heavyweights like Star and Sony are eligible for the TV and online broadcast in India, while the likes of Reliance Jio, Times Internet, Facebook and Airtel are eligible for the online broadcast.
Supersport, Follow on, Perform Media, OSN, Econnect and BeIN Sport are in the running for Global broadcast.
There is still some doubt surrounding Perform Media and BeIN Sport, are yet to receive a full confirmation, though. The former are yet to send certain document.
Meanwhile, BeIN, who cannot disclose their financial status, as per the laws of the Qatar government, has been asked by the Indian cricket board to send a confirmation mail about the issue, confirmed BCCI CEO Rahul Johri.
As of now, BAM Tech remains the only bidder to have been disqualified after the initial doubt bids by the 14 firms were scrutinised.
Amazon, BT Sport, Yahoo and Discovery are a few of the major players along the 10 firms that did not place their bids.
Update: Star has placed the highest bid of Rs 16,347.5 crore for broadcast rights across all platforms. Cumulation of bids by everyone else amounts to Rs 1,5809 crore.
