BCCI : TATA Indian Premier League (“TATA IPL”) Governing Council issued an Invitation to Tender (“ITT”) for Indian Premier League Media Rights for Seasons 2023-2027. A digital auction was held for the Media Rights from June 12, 2022, to June 14, 2022, with all qualified bidders invited to participate. Subject to signing of final documents and fulfilment of procedures as required by BCCI, and other requirements mentioned in the ITT, the winning bidders will purchase the Media Rights from IPL Season 2023 through IPL Season 2027 for a total of INR 48,390.32 crores.
BCCI’s legal counsel during the tender process was Argus Partners. BCCI’s adviser was KPMG. The e-auction ran well thanks to Mjunction Services Limited’s technology. Mr. Sourav Ganguly, President of the BCCI, once observed, “The game has never been only about money, it is about skill.” The success of the IPL online auction demonstrates the sport’s popularity in our nation. All of the young players on Team India should use these statistics as the driving force to push themselves and their team to greater heights.
The incredible success of the Indian Premier League (IPL) may be attributed to the public’s unwavering confidence in BCCI’s ability to overcome any obstacle that may arise. With the help of everyone involved, I know we can propel the IPL brand to unprecedented heights in the world of sports. Mr. Jay Shah, Honorary Secretary of the BCCI, remarked, “It brings me enormous satisfaction and makes me pleased that IPL has developed to what it is now.” In terms of the value of media rights for each match, the IPL has been propelled into the major league by the recent e-auction. We made sure that everyone involved could see and understand the process.
I’d like to extend my best wishes to the winning bidders and thank everyone who took part in the online auction. I’d also want to thank the market forces that have supported the BCCI and helped propel the IPL to greater heights. Together, I know that we can continue to grow the IPL brand to the point where it is the most successful sports league in the world in terms of viewership, attendance, and player output.
As BCCI is dedicated to fostering cricket’s growth as a national sport, the goal is to strike a balance between cricket and business interests. What really important is that the money we get from media rights goes to support cricket at the grass-roots level in India.
Besides providing the most favorable conditions for the development of women’s cricket in India, the BCCI has pledged to begin the Women’s IPL in 2023. The Board of Control for Cricket in India (BCCI) is attempting to guarantee that sports reach every part of the nation by constructing indoor sports academies in the Northeast and stadiums in strategic areas.
The BCCI will also establish a fund for the benefit of retired cricketers and their spouses. IPL Governing Council Chairman Brijesh Patel remarked, “It gives me enormous pleasure to welcome the winners to the IPL family and I also appreciate all the bidders for exhibiting their enthusiasm in becoming part of the growing narrative that this League has been authoring every year.”
In addition to demonstrating India Inc.’s confidence in Brand IPL, the company’s willingness to invest in the property, which has been successful in every way imaginable, is a positive indicator of its future potential. It’s remarkable to think about how far the IPL has come in only 15 years. Among terms of per-game media rights worth, we’re currently in the top two worldwide sports leagues.
This demonstrates the dedication of our greatest shareholder, the cricket fans, and the efficiency with which BCCI runs the IPL. Arun Singh Dhumal, treasurer of the BCCI, stated, “What we have accomplished with IPL media rights would go a long way in promoting a true “Made in India” sporting product on the world arena.” For the BCCI, this is the first step in realizing their vision of making India a sports powerhouse and expanding the IPL’s worldwide base to the point where it becomes the largest “sporting” league on the planet.
The intensity of the IPL’s fan base continues to stun me with each new season. An accomplishment of this magnitude will undoubtedly boost the League’s reputation and profile in the international sports community. It’s not often that a company’s stakeholders and partners have complete confidence in its brand, as the IPL does in BCCI’s managerial abilities.
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