June 13, 12:00 PM IST
Did Sony Television get the TV rights?
Looks as good as done, but awaiting final confirmation – Indian Premier League (IPL) Media Rights TV rights have been sold, at around Rs 50 lakh more than Sunday’s bid of Rs 57 crore. The final tally is Rs 23,575 crore for TV rights priced at Rs 57.5 crore per game. The digital pack saw no bids and it closed at Rs 48 crore per game.
The outcome of the proceedings so far is that there is a winner for the television rights and the name is not yet known. As the TV winner has the right to challenge the highest bid for digital, there is a chance of a rebid, which will start at 1:51 p.m. At this time, it is safe to conclude that the TV rights were sold for Rs 23,575 crore. There is still some time for the digital rights holder to be identified.
The day’s proceedings began on a rather quiet note, with the first bid only arriving after 25 minutes of bidding. It was for TV rights and according to the Minimum Bid Increment (MBI), it was a bid of Rs 50 lakh. After 30 minutes, the bidding for packages A and B ended, with the television winner having the right to contest.
The outcome of the proceedings so far is that there is a winner for the television rights and the name is not yet known. As the TV winner has the right to challenge the highest digital bid, there is a chance of a new bid, which will start at 1:51 p.m. https://t.co/Hwy8SrwIBv
06:39 • June 06, 2022
June 12, 5:50 p.m. IST
Bidding ends for the day with TV at 57cr and digital at 48 for an overall total of 105cr per game. The true value will be in multiples of 410. Rs 43,050 cr and that counts. #IPLMediaRights https://t.co/0LBpAplRQy
12:40 p.m. • June 06, 2022
June 12, 4:15 p.m. IST
Fees cross the INR 100 crore/match mark
Unconfirmed but reliable reports from the Board of Control for Cricket in India (BCCI) sources have revealed to Cricbuzz that the value of media rights has crossed INR 100 crore, the first milestone in the sale of IPL properties.
As of press time, the news is that the fight for digital rights has been intense with two sides unwilling to give up. The identity of bidders is a matter of confidentiality.
After breaking the barrier of INR 100 crore, the overall value jumped to INR 41,000 crore at this point, given that the number of matches in the 2023-27 cycle will be at least 410. That is 5,000 crore INR more than the overall base. full package price. The base price for all packages was around Rs 90 crore.
Reduction of the digital gap on the value of TV rights
Chances are that the value of digital rights will seriously approach the price of television rights even if it does not exceed it. This is a major development and the overall price should break through the glass ceiling. As known, the base price of the TV has been set at INR 49 crore and for digital it is INR 33 crore. So far, digital is believed to have risen to INR 48 crore while the bid value for TV remains at INR 54.5 crore.
Given the 30-minute time between each bid and intense competition, it’s possible the auction will also extend into Monday. Either way, there are two more packages – a special non-exclusive 18-game package and the rest of the world – up for auction and it’s certain that bidding will have to be halted on Sunday night. In accordance with the rules laid down by the Board of Control for Cricket in India (BCCI), the auction will end at 6 p.m.
Explain the slow bidding process
Participants apparently make full use of the 30-minute interval between each offer. In fact, TV bidding has not moved for a long time and it is understood that a bid may also be placed at a later date. The time consumption can perhaps be explained by the fact that with every bid of INR 50 lakh, the bidder has to make a payment of Rs 205 crore for five seasons (multiplied by the number of matches)
At INR 54.5 crore per game, the TV rights value increased to INR 22,345 crore while at INR 46 crore per game, the digital offering increased to INR 18,860 crore. The combined value of the rights so far is INR 41,205 crore.
June 12, 12:00 p.m. HST
Hello and welcome,
Who will be able to broadcast IPL in the next cycle? How much will they pay for it?
These are the big questions to be answered during the day. Media around the world have shown interest in this particular round, and it is expected to influence the cricket market as a whole. Rumors abound that it is this value that will serve as a reference for other media rights, including that of ICC tournaments.
Needless to say, the money pooled today is expected to influence the cricket ecosystem like never before. That money could also dictate the future of the game. On that note, as we wait to find out what’s to come, it would be helpful to catch up on what’s been going on so far. Our correspondent, Vijay Tagoreoffers a range of reports:
– IPL E-Auction: who does it belong to anyway?
– Media rights auction: no global players, but IPL expects a big show
– Explanation: electronic auctions and IPL media rights
– BCCI hints it will increase IPL matches per season in 2023-27 cycle