IPL media rights value 2023-27 breaks record on auction day 1; USD13.44 million per match bid so far

IPL media rights value 2023-27 breaks record on auction day 1; USD13.44 million per match bid so far

IPL trophy

The cash-rich IPL is now the second-most lucrative sporting business in the world, only behind NFL (USD 35.07 million) in terms of value per match. IPL is now worth a record INR 105 crore (USD 13.44 million). But the figures may rise after day one, which began on Sunday.

For Package A which is for TV rights for India sub-continent, the bid is INR 21,090 crore (USD 2.7 billion). For Package B (digital for India subcontinent, it is INR 17,760 crore (USD 2.27 billion). The combined sum has become INR 38, 850 crore (USD 4.97 billion). It is already 2.38 times or 138% higher than the 2018-22 IPL rights deal, which was bagged by Star India in 2017 for $2.55 billion.

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The IPL has also overtaken Premier League whose value per match (2022-25) rights is listed at USD 11.34 million. Since there will be 74 games per season in the next five-year rights cycle starting in 2023, the numbers mentioned above for the bidding rights are based on the number of games.

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E-auction taking place for the first time

IPL
IPL auction

The bidding process was online. For the first time, an e-auction is taking place for the sale of its media rights. In this process, first bids are filled through online portal, which is managed by an independent company. The highest bid across all categories are displayed on the screen. However, the names of the bidders aren’t disclosed because of they are competiting and arch-rivals can increase the prices.

Minimum base price gets set for each of the four categories and bidders were asked to list their price per match. For Package A, it is INR 49 crore (USD 6.3 million). For Package B, it is INR 33 crore (USD 4.2 million). For Package C, it is INR 16 crore (USD 2.05 million) and for Package D, it is INR 3 crore (USD 390,000) per match. The highest bid for Package A and B were INR 57 crore (USD 7.29 million) and Package B was INR 48 crore (USD 6.14 million).

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