The successful bidders will acquire the media rights of IPL season 2023-2027 for a cumulative amount of INR 48,390.32 crores.
The Board of Directors of the TATA Indian Premier League (“TATA IPL”) had issued an invitation to tender (“ITT”) for media rights for the 2023 – 2027 seasons of the Indian Premier League. As part of the process, an e-auction was held from June 12, 2022 to June. 14, 2022, in which all eligible bidders were allowed to participate to determine the successful bidders for the media rights.
The successful bidders will acquire the media rights from IPL season 2023 to IPL season 2027 for a cumulative amount of INR 48,390.32 crores, subject to execution of final documentation and completion of formalities as required by BCCI, and other obligations specified in the ITT that are fulfilled.
Argus Partners was BCCI’s legal advisor and supervised the entire tender process. KPMG was BCCI’s advisor. Mjunction Services Limited provided the platform for the smooth running of the e-auction.
BCCI President, Mr. Sourav Ganguly said, “The game was never just about money, it’s about talent. The IPL e-auction just showed how strong the game is in our country. The numbers should be the biggest motivation for all young players to take their skills and Team India to the highest level.
“The growth story of IPL and its phenomenal rise in the sporting world is the result of people’s immense belief and belief in the BCCI leadership and its staff to continue to perform under all adversity. I am confident that with the constant support of everyone in the ecosystem, we will be able to take brand IPL to new heights on the global sports stage.”
Honorary Secretary of BCCI, Mr. Jay Shah said: “It brings me immense joy and pride that IPL has grown into what it is today. Today’s e-auction has catapulted IPL into the big league in terms of media rights per match. We ensured that the process was transparent and fair for all stakeholders. Congratulations to all winners and thank the bidders for participating in the e-auction process. I also express my gratitude to the market forces for believing in the brand and showing their faith and trust in BCCI to take IPL to newer heights. I am confident that together we will continue to add value to the IPL brand and make it the largest sports league in the world in terms of revenue, participation and performance.
“The whole idea is to balance cricket and commercial interests as BCCI is committed to developing sports in the country through cricket. The money we generate through media rights ultimately benefits cricket in India and that’s what it’s all about. The BCCI is also committed to launching the Women’s IPL in 2023, in addition to creating maximum opportunities for the growth of women’s cricket in the country. In BCCI’s effort to ensure sport goes beyond cricket, it is also establishing indoor sports academies in the North East and stadiums in select locations to promote sport in every nook and corner of the country. The BCCI will also build a pool of resources to provide pensions and financial assistance to former players and widows of cricketers.”
Chairman, IPL Board of Directors, mr. Brijesh Patel said: “I am delighted to welcome the winners to the IPL family and also thank all bidders for showing their interest in being part of the growth story this League writes every year. This trust of India Inc. in Brand IPL also testifies that they see value in investing in the property, which has only grown in all directions.
“The growth that the IPL has achieved in 15 years has been significant. We are now among the top two sports leagues in the world in terms of media rights valuation per match. This speaks volumes about BCCI’s organizational capabilities and the quality of cricket on display in IPL, along with the support from our greatest stakeholder – the cricket fans.”
BCCI Treasurer, Mr. Arun Singh Dhumal said: “What we have achieved with IPL media rights will go a long way towards promoting pure ‘Made in India’ sports ownership on the global stage. This is our first step towards what we at the BCCI wanted to achieve by to make India a sports giant and expand the base of IPL globally and make it the largest “sports league” in the world. IPL’s craze and popularity has never ceased to surprise anyone with every season of play. This is a milestone and it will help grow not only in stature, but also in credibility on the global sports scene. It’s not every day that your partners and stakeholders place such trust in a brand like the IPL and entrust BCCI’s leadership skills.”