IPL Media Rights E-Auction For 2023-27 Cycle Begins
The e-auction for the media rights for the IPL 2023 to 2027 began on Sunday
The e-auction for the media rights for the Indian Premier League (IPL) for the years 2023 to 2027 began on Sunday. There are four specific packages in which e-auction will be conducted or 74 games per season for a five-year period from 2023-2027 with a provision of increasing the number of matches to 94 in the final two years.
The process has been divided into a total of four packages (A, B, C and D). Package A is exclusive for TV (broadcast) for the Indian subcontinent while package B is for digital-only grouping for the same region.
Package C is for 18 selected games in each season for digital space.
In Package D all games will be for combined TV and digital rights for overseas markets.
All bidders will have to make separate bids for each package, this time. Bidders for Package A must have a net worth of Rs 1000 crore; it is Rs 500 crore for those bidding for other packages.
The IPL media rights auction will start with the sale of packages A and B on Sunday -- TV and digital broadcast rights respectively.
According to media reports, the board is expected to fetch nearly double the money this term, as compared to the last auction which took place in 2017.
Star India bought IPL media rights for Rs 16,347 crore in 2017. This time the base price is Rs 32,890 crores, which means the BCCI is expecting to get at least twice the previous amount.
There is no deadline for the auction. It will continue until the placement of all bids. This is the first time that an e-auction will be conducted for determining the winner of IPL's media rights. The BCCI is looking forward to continuing the online mode of the auction in the coming years.