IPL 2023: Indian Premier League rights value breaks record on auction day one, USD 13.44 millions
IPL 2023: An IPL match is currently valued a record INR 105 crore (USD 13.44 million), making it the second-most lucrative sporting product in the world in terms of value per match, after only the NFL (USD 35.07 million*) - For more update keep following 99Runs
Given that the e-auction for the T20 tournament's media rights, which began on Sunday, is still ongoing, this sum could really climb.
The total amount bid so far is INR 38,850 crore (USD 4.97 billion), consisting of INR 21,090 crore (USD 2.7 billion) for Package A (TV rights for India subcontinent) and INR 17,760 crore (USD 2.27 billion)for the Package B (digital rights for India subcontinent); this is already 2.38 times (138percentt) more than the 2018-22 IPL rights deal, which Star India secured in 2017 for $2.55 billion.
These figures assume 74 games per season in the following five-year rights cycle, which begins in 2023.
As of now, the IPL has surpassed the Premier League, with a per-match worth of USD 11.34 million** for the 2022-25 rights.
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The IPL put its media rights up for sale for the first time through an e-auction, bypassing the closed bid process.
Bids are submitted through an internet portal controlled by a third-party corporation in an e-auction.
The top offers in all categories are displayed on screen simultaneously and in real time, but the names of the bidders are not revealed to prevent rivals from inflating prices.
The IPL set a minimum base price for each of the four categories for this auction, and bidders were requested to list their price per match.
The base fee per match for Package A is INR 49 crore (USD 6.3 million). It costs INR 33 crore (USD 4.2 million) each match for Package B.
It costs INR 16 crore (USD 2.05 million) each match for Package C. It costs INR 3 crore for Package D. (USD 390,000).
Packages A and B were put up for auction at the same time on Sunday, with all of the major bidders from the final list of seven vying for the top spot.
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Package A received the highest bid of INR 57 crore (USD 7.29 million), which was 16.3 percent higher than the IPL's basic price.
Package B received the highest bid of INR 48 crore (USD 6.14 million), which was 45.4 per cent higher than the base price.
The total amount - INR 105 crore - is already 93.6 percent greater than the last IPL rights deal's per-match pricing (INR 54.23 crore).
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