Bidding on IPL TV and media rights ends on INR 43,050 crores on day 1; to resume tomorrow- Reports

The bidding to continue on June 13.

The bidding for media rights for the Indian Premier League (IPL), one of the biggest cricketing properties in the world, for the next cycle of 2023-2027 from top broadcasters, and over-the-top (OTT) players saw the value more than double on day one of bidding on June 12 at INR 43050 crs.

The e-auction began on Sunday morning, with the Board of Control for Cricket in India (BCCI) selling the media rights for the IPL for a five-year period from 2023-2027.

There are four specific packages in which the e-auction is being held for 74 games per season. There is a provision, however, for increasing the number of matches to 94 games in the final two years of the marquee T20 tournament.

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The four groups include Package A, which has Indian sub-continent exclusive TV (broadcast) rights, while Package B covers digital rights for the Indian sub-continent. Package C is for selected games in each season, while Package D is for all games combined — TV and digital rights — for overseas markets.

All bidders are making separate bids for each package. Bidders for Package A must have a net worth of Rs 1000 crore; it is Rs 500 crore for those bidding for other packages.

Meanwhile, though big US tech giants like Google, Amazon, and others pulled out of the bidding, global giants like Zee Entertainment Enterprises Limited (ZEEL), Reliance-Viacom 18, Disney Star Network, and Sony Network are still in the fray.

(ANI inputs)