The Board of Control for Cricket in India (BCCI) is the world’s richest and dominant cricket board. The BCCI is about to get richer with the addition of two new teams in the IPL and from the issue of broadcasting rights.
A recent development revealed that the BCCI can fetch up to a whopping USD 5 billion just by broadcasting rights of the Indian Premier League (IPL). IPL is the world’s most watched and celebrated cricket league. Hence, several firms are eyeing to bag the broadcasting rights for the next five-year cycle (2023-2027).
Star India holds the broadcasting rights for the current cycle (2018-2022). However, the valuation, which is at Rs 16,347.50 crore (USD 2.55 billion) currently, could more than double and reach USD 5 billion (around Rs 36,000 crore approx at the current exchange rate).
Amount of matches in IPL 2022 will go up to 74: BCCI official
The addition of the two new teams will make the biggest league even bigger. The IPL will become a 10-team affair and expectedly the number of matches will increase. The number of encounters will reportedly go up to 74 in any case.
“There is a well-known US-based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases,” NDTV quoted a senior BCCI official on conditions of anonymity.
“But with two new teams about to fetch anything between Rs 7000 crore to 10,000 crore, the broadcast rights are certainly going to shoot through the roof. So expect the IPL broadcast rights to go for anything above USD 4 billion and may be up to USD 5 billion,” the official in the know of things added.
Star will broadcast IPL 2022 as of now. The previous broadcasting rights were purchased by Sony who had the rights from 2008 till 2017. Now a lot of foreign companies are showing interest in buying the rights. However, any foreign company showing interest in buying IPL properties needs to have an Indian wing.
Highlights:
• BCCI can fetch up to USD 5 billion just by broadcasting rights of IPL
• foreign companies showing interest in buying IPL’s broadcasting rights
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