Disney-Star, Viacom18 in talks with private and public sector banks for bank guarantees to BCCI, check details

IPL media rights: The two winners of the IPL Media Rights Disney Star and Viacom18 are in talks with private and public banks for a bank guarantee. Disney-Star won the broadcasting rights for Rs 23,575 crores. Viacom18 paid Rs 23,758 crores to acquire digital rights. Follow Cricket and IPL news with InsideSport.IN

“Both companies are required to submit bank guarantees (BGs) to meet their obligations to the cricket board and are in advanced talks with more than half a dozen lenders to finalize their respective deals,” an official with knowledge of the negotiations told the Economic Times.

IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details

IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details
IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details

IPL Media Rights Value: Lalit Modi Makes BIG PREDICTION, ‘IPL Values ​​Doubled In Next Cycle Will Exceed 1 LAKH CRORES’

IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details

IPL media rights: Disney-Star & Viacom18 get the ball rolling

  • Disney-Star is in talks with Deutsche Bank, HSBC, Standard Chartered Bank and BNP Paribas.
  • Viacom18 is in talks with ICICI, State Bank of India (SBI) and HDFC for bank guarantees.
  • Disney-Star and Viacom18 are jointly arranging for approximately Rs 9,600 crores of non-fund-based guarantees.
  • The BCCI can collect if problems arise with payments during the period of the next five years. The bank guarantees are renewed every year.
  • Disney-Star must secure approximately 80% of the required amount to pay to BCCI for the first year of broadcast.

IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details

Disney-Star must secure approximately 80% of the required amount to pay to BCCI for the first year of broadcast. That is why Disney-Star is in talks with four banks, including Standard Chartered Bank, HSBC, BNP Paribas and Deutsche Bank. Approximately, the money is at Rs 4,715 crores.

According to Economic Times, Viacom18 is nearing completion of a deal with three banks, including State Bank of India, HDFC and ICICI. Disney-Star may contact US lenders such as JP Morgan and Bank of America to secure the remainder of the 20% of the amount.

Disney-Star acquired Package A for an amount of Rs 23,575 crores. Package A consists of broadcasting rights. Viacom18 packed up package B at a cost of Rs 20,500 crores. Package B consists of digital rights. Also, Viacom18 paid Rs 3,258 crores for non-exclusive package C. Package C consists of rights for opening matches, three play-offs, finals and weekend double-headers.

IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in conversation with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details

Follow InsideSport on GOOGLE NEWSFollow Cricket and IPL news with InsideSport.IN

Leave a Comment