IPL media rights for 2023-2027 sold for Rs. 48,390 crore; Star India, Viacom18 and Times Internet place winning bids

Star India, Viacom18 and Times Internet have bagged the media rights of the Indian Premier League (IPL) for a five-year period from 2023 to 2027.

BCCI secretary Jay Shah gave details about the deals through a series of tweets. He revealed that Star India has won the TV rights with a bid of Rs 23,575 crore while Viacom 18 has bagged digital rights with a winning bid of Rs 23,758 crore.

Star India had also secured the IPL media rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017.

A tweet from IPL’s official Twitter handle confirmed the latest developments. The tweet read:

“Thank you, @StarSportsIndia for renewing the partnership! Welcome on-board @viacom18 and @TimesInternet. This is just the start of a promising 5-year journey. We can't wait to get going. #TATAIPL.”

Adding that the IPL is now the second-most valued sporting league in the world in terms of per-match value, Shah wrote in another tweet:

“Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 crore value.”

Urging state associations and IPL franchises to work together to enhance the fan experience, Shah asserted that the BCCI will utilize the revenue generated from the IPL to strengthen their domestic cricket structure starting from grassroots, boost infrastructure and spruce up facilities across India to enrich the overall cricket-watching experience.

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IPL media rights explained

Media rights for the IPL for the 2023-2027 cycle were handed out in four packages via an e-auction. Package A was for television rights, which went to Star India. Viacom 18 won the digital rights for the Indian sub-continent via Package B.

Package C included the digital rights to a special group of matches, including the opening match, final game, three play-offs and weekend double headers - a total of 18-20 of the best matches during each edition for the next five years. Viacom won the bid for the same.

Package D comprised overseas media rights of the IPL for the next five years. Viacom and Times Internet are reportedly the joint winners here.