The Board of Control for Cricket in India (BCCI) on Wednesday confirmed that the Indian Premier League (IPL) media rights for the 2023-2027 cycle have been sold. The board stated that it had earned a whopping amount of Rs 48,390.32 crore from the deal, making the T20 league the second most valuable sports property in the world.
BCCI general secretary Jay Shah extended his best wishes to the winners who bagged the deal in the e-auctions.
“It gives me immense joy and makes me proud that IPL has grown to what it is today. The e-auction today has catapulted IPL into the big league in terms of per match media rights value. We ensured that the process was transparent and fair to all stakeholders. I congratulate all the winners and thank the bidders for participating in the e-auction process,” said Shah in a statement.
“I also express my gratitude to the market forces for believing in the brand and showing their faith and confidence in BCCI to take IPL to newer heights. I am sure, together, we will keep adding value to brand IPL and make it the biggest sporting league in the world in terms of revenue, participation and performance,” he added.
Shah further explained that the amount received at the e-auction will be majorly used for the upliftment of cricket in India. He said the board has planned to launch a full-fledged women’s IPL from 2023 and is working on it actively.
“The whole idea is to balance cricket and commercial interests as BCCI is committed to developing sports in the country through cricket. The money we generate through media rights will ultimately benefit grassroots cricket in India and that is what ultimately matters. The BCCI is also committed to launching the Women’s IPL in 2023 apart from creating maximum opportunities for the growth of women’s cricket in the country,” Shah stated.
“In BCCI’s attempt to ensure that sports should travel beyond cricket, it is also setting up indoor sports academies in the Northeast and stadiums in select locations to promote sports in every nook and corner of the country. The BCCI will also build a resource pool to provide pension and financial aid to former players and widows of cricketers,” he concluded.
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