#IPL #MediaRights #StarIndia
Media rights for Indian Premier League or #IPL, the most lucrative and widely watched sports event in India, has been grabbed by Star India for a whooping Rs 16,347 crore.
This is certainly the highest and most expensive media contract ever given for IPL.
However, the shocker was Facebook's daredevil bid for claiming digital media rights of the event – they bid Rs 3900 crore, and lost. But the amount of the bid clearly stunned everyone.
There were total of 13 bidders, but Star India won the complete contract because of their highest bid, covering all the 7 formats of the media coverage.
As per the rules of the bidding, the consolidated bidding had to be higher than the sum of the highest bids for every category; and technically, by putting in the premium of Rs 7882.47 crore, Star India was able to achieve that.
The total amount of the highest bid for every category came to Rs 15,819.51, which is just Rs 528 crore less than what Star India eventually paid.
Sony Pictures Network (SPN), which held the rights since last 10 years had bid Rs 11,050 crore for only one category: Indian subcontinent.
In 2015, Vivo had bagged the IPL title sponsorship for two years for Rs 2190 crore; whereas Oppo has paid Rs 1070 crore for Indian team jersey.
Star India will now pay Rs 3269 crore every year to BCCI for IPL media rights, which means Rs 54.5 crore for every IPL match, between 2018 and 2022.
Star India is also the media rights holder for all matches played (excluding IPL), played by Indian team. This contract will end in March next year.