(MENAFN- BreezyScroll)
The Board of Control for Cricket in India (BCCI) could earn up to a whopping USD 5 billion just by broadcasting rights of the Indian Premier League (IPL). Several digital marketing companies are eyeing to bag the broadcasting rights for the next five-year cycle (2023-2027).
Star India holds the broadcasting right for the current cycle(2018-2022). However, the current valuation, which is at ₹16,347.50 crores (USD 2.55 billion) right now, could more than double and reach USD 5 billion (around ₹36,000 crores approx at the current exchange rate). Two new teams are set to be added from the next edition of IPL and subsequently see more matches.
With 10 teams playing IPL from 2022, the matches will go up to 74: BCCI
“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.
“But with two new teams about to fetch anything between Rs 7000 crore to 10,000 crores, 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 maybe up to USD 5 billion,” the official in the know of things said.
Notably, any foreign company showing interest in buying IPL properties needs to have an Indian wing. As of now, Star Sports have broadcasting rights and they are set to telecast IPL 2022. While they got the command in 2018, Sony Pictures Network held IPL broadcasting rights from 2008 to 2017.
Glazer family, Manchester United owners, shows interest in IPL franchise
Manchester United's owners, the Glazer family , are reportedly interested in buying a franchise team in the Indian Premier League (IPL). Manchester United is one of the world's most richest and popular football clubs. BCCI has also allowed foreign entities to buy the ITT and submit the bid. However, there is a condition that if they win the bid, they will have to set up a company in India. The Glazer family has picked up the ITT and they are among a number of interested parties.
IPL
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