BCCI set to earn $5 Billion from IPL’s broadcasting rights ! Here’s everything you need to know

The BCCI is all set to earn a whopping amount of $5 Billion (Around 36,000 crores) from the broadcasting rights of the Indian Premier League in the 5-year cycle of 2023-2027. Moreover, some heavyweight candidates are set to place their bids for two new teams that will be added to the roster and the board is expected to make some good gains in the coming months.

Talking to PTI, a senior BCCI official said, “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.”

“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.

It needs to be noted here that a foreign company can invest in IPL or might buy a team in it only if it has an Indian wing. Tesla, who recently opened their Indian wing, for example, can invest in IPL if they want to. Also, Star India is actually a subsidiary of Walt Disney, which is a US based company.

Coming back to The rights of IPL was originally bought by Sony and Star India later took it over for the upcoming 5 years. It is now to see which media company buys the rights to the mega tournament in 2023.

Coming to the two new teams, The Glazer family, who are also the owners of the Premier League team Manchester United, have shown interest to buy one of the two new franchises that are going to be added to the Indian Premier League. 7000-10000 crores is the bidding amount that BCCI can expect for the teams.

The BCCI is now set to release the tender invitation in Dubai on October 25. The two new teams will be announced on that very day.