Star has pipped Sony Pictures Network to acquire the IPL media rights, including both TV and digital rights for a period of five years (2018-2022), with a whopping global bid of INR 16,347.50 crores (USD 2.55 billion).
Bids were called for television and digital rights across categories that separate the Indian sub-continent from other regions, that include: USA, Europe, Middle East, Africa regions and the rest of the world. Bidders were provided the option of presenting a global bid with a breakdown of the sum of parts or a breakdown of bids based on the market they were targeting. This means, Star now hold the both TV and digital rights for IPL all over the world.
Among the individual bids for different sectors, Facebook had the highest for digital rights in the sub-continent (INR 3,900 Crores) and Sony had topped the TV rights in the sub-continent (INR 11,050 Crores). The sum total of the top bids for all sectors amounted to INR 15, 819.51 crores, falling well short of Star’s global valuation.
— IndianPremierLeague (@IPL) September 4, 2017
“IPL is a very powerful property… We would remain very committed for the growth of sports in country and hope it would be driven by the power of cricket.”