The streaming and TV rights of the Indian Premier League (IPL), the world’s richest cricket league, have been sold for a record-breaking $5.6bn (Sh656.5bn).
Indian billionaire Mukesh Ambani-backed Viacom18 bagged the streaming rights at $2.6bn (Sh304bn), AFP reported quoting sources.
Disney-owned Star India meanwhile picked up the TV rights at around $3bn (Sh351.6bn), local reports said.
Two other rights packages were still being auctioned off on Tuesday.
Combined, the streaming and TV rights deals are more than double what Star paid in 2017 for the previous five seasons of the IPL - $2.4bn (Sh281bn).
According to ESPN Cricinfo, the winning bid for the television rights of the annual two-month cricket league for the next five seasons were sold for around $7.36 million (Sh862m) per match. This period includes 410 IPL matches.
For the digital streaming rights, the highest bid was $6.4m (Sh757m) per match.
These figures put the IPL among the highest-ranked leagues alongside the NFL and the English Premier League (EPL), in per-match terms.
The media rights auction by the BCCI for the broadcast rights of the IPL from 2023 to 2027 has media giants Viacom18, Mr Ambani’s joint broadcasting venture, Disney and Sony India fighting for a piece of the IPL pie.
The auction which started on Sunday morning is now on its third day, with two more rights packages - international broadcast of the IPL, and non-exclusive rights for certain matches - up for grabs.
In all, the BCCI is reportedly set to make an eye-watering figure from the sale, projected at upwards of $6bn (Sh703bn).
One of the world’s most-watched sporting events, the IPL attracts some of the world’s top cricketing talent with high-paying packages.
