The BCCI on Tuesday issued tenders for the media rights of the IPL season 2023-2027. The e-auction for the media rights of IPL will start on June 12. By selling media or broadcasting rights of IPL 2023-2027, BCCI can get a hefty price of Rs 45,000 crore, as this time it plans to sell the rights to show the match on TV and OTT separately. Check IPL Media Rights Tender Is Out, E-Auction Date, Time And More.
Along with Star, many companies are involved in the race to buy IPL media rights, which can create new competition for these rights. Currently, the broadcasting rights of IPL are with Star Sports, which ends with the 2023 season.
Media Rights Tender For IPL 2023-2027
Media rights are the biggest source of income for BCCI and teams in IPL. About 70% of the total earnings of IPL come from this.
IPL started in 2008. Sony had brought media rights of IPL for 10 years till 2017. Sony had spent Rs 8,200 crore for this.
In 2018, Star Sports bought IPL broadcasting rights for Rs 16,347 crore for 2018-2022, ie five years.
Now IPL broadcasting rights are selling again for five years from 2023 to 2027. However, this time BCCI will sell these rights by dividing them into four separate packages instead of one package.
Media Rights Tender: E-Action Date And Time
An e-auction of IPL media rights will start on June 12. Parties can Participate in e-action till May 10. For which a non-refundable amount of Rs 25 lakh + GST will be deposited by parties. BCCI Secretary Jay Shah said that IPL will reach new heights. by organizing 2 new teams and more matches.
What are broadcasting rights or media rights?
Broadcasting rights are also known as media rights. This means that a company buys the right to show the matches of that league from the organization running a sports league for a fixed period and a fixed amount.