IPL 2023-27 India subcontinent rights sold for US$ 2.72 billion

IPL 2023-27 India subcontinent rights sold for US$ 2.72 billion

IPL trophy

The most lucrative categories in IPL- TV and Digital media rights were bid in an e-auction that started on Sunday. On the first day, the highest closing bid for Package A had been INR 57 crore, while for Package B, it was at INR 48 crore.

The highest bid for TV and digital in e-auction for the next cycle [2023-27] have been revealed. The biggest bid for IPL TV rights for the TV rights for the Indian subcontinent [Package A] attracted INR 57.5 crore (USD$ 7.37 million approx) per match. While the digital rights for the Indian subcontinent [Package B] attracted a highest bid of INR 48 crore (USD$ 6.15 million approax.).

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IPL generates more revenue than Premier League

IPL
IPL and EPL trophies

The combined value of INR 105 crore (US$ 13.5 million approax.] has put IPL alongside big names in sports- NFL and English Premier League in terms of per-match value.

“I’ve seen the game evolve from where players like me earned a few hundred dollars to where we now have the potential to earn crores. The fans, the people of this country, and the BCCI, which was founded by cricket fans, run this game. This sport is growing in popularity and will continue to evolve. The Indian Premier League generates more revenue than the English Premier League. It makes me happy and proud that the sport I love has grown to be so powerful,” BCCI President Saurav Ganguly said.

The highest bid for the IPL’s TV rights was 17.35% higher than the base price of INR 49 crore (US$ 6.3 million approx.). While for digital rights, there was a huge jump of 45.4% over the base price of INR 33 crore (US$ 4.2 million approax.). The combined figure is also 94.5% higher than the INR 54.23 crore (US$ 8.47 million approax. at the time). The names of the winnners have not been disclosed yet because the e-auction is still in progress.

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