The BCCI has exceedingly high expectations from the upcoming media rights cycle for the IPL. Subsequently, a BCCI official has revealed to one of the sources that the Board are anticipating a mind-boggling amount of Rs 40,000 crores from the next media cycle of the IPL.
Moreover, while speaking to PTI, a BCCI official has also revealed that a US-based company has shown great interest in media rights.
“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,”
“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.”
Who has the current five year media rights of IPL and when will BCCI release the new tender for media rights?
Star India currently has the five year media rights (2018-2022) to broadcast the IPL.The TV network splashed 16,347.50 crores (USD 2.55 billion) for the current media rights cycle of this tournament. Star had outbid Sony by a significant margin to take away their media rights.
Consequently, we could see some other brand coming in and swoop the upcoming media right cycle of 2022-2025. However, if things go according to the expectations of BCCI, business organizations will have to splurge around 35,000 to 40,000 crores which are nearly 125% of the current value of media rights.
The BCCI is all ready to release the tender invitation on 25th October. This is the same date when two new IPL teams will be announced by the board.