BCCI expects double digit revenue for IPL broadcast rights in 2023-27 cycle

The BCCI is set for a windfall of gigantic proportions as the IPL broadcast rights (TV and digital) could fetch the Board up to USD 5 billion for the next five-year cycle (2023-2027) while some high-profile interest is being seen in the bidding process for the two new teams.

The current five-year rights (TV and digital) for IPL from 2018 to 2022 are with Star India but, according to people who are in decision-making capacity, the valuation, which is at Rs 16,347.50 crore (USD 2.55 billion) right now, could more than double and reach USD 5 billion (around Rs 36,000 crore approx at current exchange rate).

"There is a well-known US based company which did send BCCI feelers some time back, expressing their serious interest in bidding for IPL media rights. With 10 teams playing IPL from 2022, the matches will go up to 74 and in any case, the valuation of the property increases," a senior BCCI official told PTI on conditions of anonymity.

"But with two new teams about to fetch anything between Rs 7000 crore to 10,000 crore, the broadcast rights are certainly going to shoot through the roof. So expect the IPL broadcast rights to go for anything above USD 4 billion and may be up to USD 5 billion," the official in the know of things said.

Any foreign company showing interest in buying IPL properties needs to have an Indian wing.

The last time around, there were only two major players in TV and digital media rights market with Star India handsomely outbidding Sony, who held the rights from 2008-2017.

The BCCI normally categorises various broadcast deals like TV, digital (streaming), radio, and social media but last time, it allowed separate as well as one composite bid.

Any company can also bid separately but if the valuation of the singular composite bid is more than the cumulative amount of singular bids, then that is considered by the Board.

The BCCI is set to release the Tender invitation in Dubai on October 25, the same day when two new IPL teams will also be announced.

The BCCI is expecting robust bidding from both Star India and also Sony, which would like to get the IPL property back in its bouquet.

Manchester United owners Glazer family picks up IPL team bid document

The IPL bid document costs Rs 10 lakh and a lot of business houses and big corporate houses buy the bid document just to analyse the business prospects.

The BCCI is expecting anything between Rs 7000 crore to 10,000 crore from the team bidding of IPL.

As PTI had reported some time back, some of the major players who could bid for new IPL teams are the Adani Group, Kotak, pharma majors Aurobindo and Torrent group, and the RP-Sanjiv Goenka group.

The BCCI is allowing consortiums and companies with annual turnover of Rs 3000 crore to bid for teams.

The base price for new IPL teams is pegged at INR 2000 crore.