Indian Premier League media rights sold in record-breaking deal

The streaming and TV rights for the Indian Premier League - the world's richest cricket competition - have been sold for a record US$6 billion for the next five years.

Disney-owned Star India retained its TV rights for the competition at a cost of US$3.05 billion while BBC - Viacom18, backed by Indian billionaire Mukesh Ambani, secured streaming rights until 2027 for US$2.6 billion.

The two deals combined are more than double the $2.4 billion Star paid for the previous five seasons of the IPL and places the competition among the highest-ranked sport leagues alongside the NFL in the US and the English Premier League in cost-per-match terms.

Star India’s winning bid for the TV rights - which incorporates 410 IPL matches - were sold for about US$7.36 million per game while the digital streaming rights from 2023 for the annual two-month competition were sold for US$6.4 million per match.

The media rights auction by the Board of Control for Cricket in India (BCCI) is continuing with two more rights packages - for international broadcasts of the IPL, and non-exclusive rights for certain matches - still available.

BCCI Honorary Secretary, Jay Shah said the revenue generated from the IPL helps grassroots cricket in the country by funding infrastructure improvements and facilities, advising “now, it's time for our state associations, IPL franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder - the cricket fan - is well looked after.”

One of the world's most watched sport events, the IPL attracts many of the game's top cricketers who are attracted by lucrative contracts.

The 2022 edition of the IPL concluded on29th May and was won by the Gujarat Titans.

The 2023 tournament is tentatively scheduled to take place between 25th March to 28th May.