IPL now second most valued sporting league, we are proud, says Chairman Brijesh Patel

 

Following the e-auction of TV and digital rights, IPL Chairman Brijesh Patel expressed his delight at the Indian Premier League becoming the “second most valuable sporting tournament in terms of per match value,” saying it is “certainly a thing to be proud (of).” At e-auctions on Tuesday, Star India and Viacom18 won the TV and digital rights for the 2023-2027 cycle for a combined Rs 48,390 crore for 410 matches.

“It is a good achievement and definitely a thing to be proud. It is only one below NFL (National Football League). Everyone is proud of it and we are happy,” Patel told ANI.

Viacom18 paid Rs 23,758 crore for the internet rights to the Indian Premier League, while Star India paid Rs 23,575 crore for the TV rights. Viacom-18, which is owned by Reliance Industries, also gained rights to Australia, South Africa, and the United Kingdom. The Middle East and North Africa (MENA) region, as well as the United States and the rest of the world, now have rights.

“We sensed that and that is why we broke the packages into four packages and also the non-exclusives. So, we are able to generate more, ” Patel said.

The value of media rights has increased by more than two-and-a-half times since Star India paid for them in 2017.

“We are very satisfied with the outcome and we had actually expected this kind of response from the bidders. It was done in the most transparent manner, ” Patel added.

(With ANI Inputs)

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