Indian Premier League pens five-year TV deals worth USD 6.1 Billion

Indian Premier League pens five-year TV deals worth USD 6.1 Billion

The Indian Premier League has reportedly signed five-year television deals for the domestic market worth USD 6.1 billion (£5 billion), or close to USD 17.16 million (£14 million) per match.

With the upcoming IPL season having 74 games, the new agreement makes it the second biggest moneymaking league in the world based on per-match parameter.

The NFL continues to lead the list, having closed an 11-year domestic rights agreement worth USD 113 billion involving Amazon and five television networks.

The new deal has doubled the value of every IPL game. The previous five-year deal of the league brought in around USD 2.13 billion (£1.74 billion) with Disney’s Star network getting the digital and television coverage rights. This time, Star has paid USD 3.02 billion (235.75 billion rupees) just for the television deal.

Amazon’s disinterest to pursue IPL’s digital rights did not have any effect on its raised price. The digital rights were acquired by Viacom 18, a Paramount-TV18 joint venture, for USD 3.04 billion (237.6 billion rupees). It is worth noting that TV18 is the media unit of Mukesh Ambani’s business empire.

Interestingly, a third package that offers non-exclusive rights to stream eighteen of the most significant matches of the competition is not allocated yet.

Jay Shah, Honorary Secretary of the Board of Control for Cricket in India has opined that the Board will use the proceeds generated from the Indian Premier League to reinforce its domestic cricket structure at a grass-root level, spruce up facilities and boost infrastructure across India.

Shah added that IPL franchises should collaborate with state associations to improve the fan experience and assure their well-being as fans are the biggest stakeholder in the sport.

International rights are likely to be assigned on June 21st. Interested parties were urged to buy invitation-to-tender documents before the deadline of May 10th.

Source credit:

https://www.theguardian.com/sport/2022/jun/14/indian-premier-league-signs-five-year-television-deals-worth-5bn