IPL Media rights value has broken all records! An IPL per match value is now worth INR 105 crores (USD 13.44 million) which makes it the second most valuable sporting product, behind the NFL whose per match value is 35.07 million. IPL per match value could rise further as the e-auction of the IPL 2023-2027 will continue on Monday.
The combined sum bid for Package A & B is INR 38,850 crore (USD 4.97 billion) – that is INR 21,090 crore (USD 2.7 billion) for Package A (TV rights for India sub-continent) and INR 17,760 crore (USD 2.27 billion) for Package B (digital for India subcontinent) which is already 2.38 times higher than the 2018-22 IPL rights deal, bagged by Star India in 2017 for $2.55 billion.
The IPL per match value has overtaken the Premier League whose per match value for the 2022-2025 cycle is listed at USD 11.34 million. The media rights offered for the period of the 2023-2027 cycle will have 74 matches per season. However, as reported earlier by Cricketflicker, the BCCI is planning to increase the number of games to 410 with a progressive increase after every two seasons.
For the IPL 2023-2027 cycle, BCCI has fixed a minimum base price for each of the four categories and asked bidders to list their prices on a per match basis. For Package A the per match base price is INR 49 crore (USD 6.3 million). For Package B it is INR 33 crore (USD 4.2 million) per match. For Package C it is INR 16 crore (USD 2.05 million) per match. For Package D it is INR 3 crore (USD 390,000).
On Sunday, packages A & B were opened for bidding simultaneously with seven big names keenly contesting bids. The highest bid for Package A on was INR 57 crore (USD 7.29 million) – 16.3% higher than the base price set by IPL. The highest bid for Package B was INR 48 crore (USD 6.14 million), 45.4% higher than the base price. The combined figure – INR 105 crore – is already 93.6% higher than the per match value in the previous IPL rights deal i.e. INR 54.23 crore.
7 big media giants indulge in a high-octane bidding war
The big giants who are actively bidding for media rights are Disney-Star, Sony, Viacom-Reliance, Zee, Fun Asia, Super Sport, and Times Internet. They will resume the auction on Tuesday at 11 am IST. According to the rules set by the iPL, the winner of Package A could compete for the digital rights by offering the winner of Package B, 5% more than the top bid. They will then indulge in a bidding war against each other until one of them drops out. Once the winners for Packages A and B are determined, the auction process for Packages C & D will commence.
Which company will win this zealous bidding war & acquire the IPL 2023-2027 media rights? Let us know in the comment box
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