BCCI’s IPL broadcasting rights valuation likely to shoot up to USD 5 Billion: Sources.
IPL 2022: With several high profile foreign companies showing interests in owing broadcasting rights of the cash-rich Indian Premier League (IPL), the BCCI is all set to witness a huge windfall as the total valuation of the IPL’s broadcasting rights can shoot up to USD 5 Billion, says reports.
BCCI’s sells IPL’s broadcasting rights for every five years which is currently held by Star India, a subsidiary of Walt Disney. The current worth of the rights stands roughly at INR 16,347.50 crore (USD 2.55 billion) which could possibly get doubled in the next cycle with two new IPL teams getting in place.
As per the current exchange rates, the valuation of the IPL media rights could reach USD 5 billion and even more if IPL continues to blossom in the coming year as well.
The entry of two new IPL teams will lead to an increase in the total number of matches which will ultimately fetch a handsome amount to the broadcasters. The officials who are in the know of the development say that the matches can rise anywhere around 74 with two new teams coming.
“There is a well-known US based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases,” a senior BCCI official told PTI on conditions of anonymity.
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“But with two new teams about to fetch anything between ₹7000 crore to 10,000 crore, the broadcast rights are certainly going to shoot through the roof. So expect the IPL broadcast rights to go for anything above USD 4 billion and may be up to USD 5 billion,” the official in the know of things said.
Two new IPL Franchisees to be revealed on October 25:
The Invitation To Tender document for the broadcasting rights of IPL’s next five years cycle (2023-2027) will be set afloat by the BCCI on October 25, the day when the board announce the two new IPL teams.
With some high-profile players coming into action, the BCCI is anticipating Star India and Sony to come up with robust bidding and indulge in fierce competition. Zee Entertainment Enterprises Ltd’s (ZEEL) and Reliance Industries Ltd (RIL) are amongst a few other interested businesses that are likely to bid for the media rights of the IPL for the next five year’s cycle.
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