Star India outbids Sony, bags IPL contract

Star India outbids Sony, bags IPL contract

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Today:- Sep – Board of Control for Cricket in India (BCCI) expected to garner Rs 20,000 crore from the Indian Premier League (IPL) media rights that were announced on Monday in Mumbai. After the bid documents were submitted by 14 companies, Star India emerged as the highest bidder for the TV and digital content in the country with a bid of Rs. 16,347.50 crores. The overall combined bid was Rs 15,819.54 crores. The winning bid will allow Star India to air content on their properties for a period of five years (2018-2022).
Of the 14 companies which expressed interest, BamTech were disqualified for missing fundamental documents and BeIN Sports will undergo further scrutiny after failing to submit financial statements under the Qatari law. SuperSport, Yupp TV, Econet, OSM (Gulf DTH) have emerged as the eligible companies to broadcast IPL content after their bid dcouments were evaluated.
Previously, Sony held the broadcast rights in the country while Star India held the digital media rights. Even by conservative estimates, BCCI were expecting to make a windfall of Rs 12,000 – 14,000 crore which would help not just the board’s coffers but also that of the IPL franchises with this pool further divided among the eight franchises.
The IPL media rights have been divided into seven different categories — Indian television rights, Indian digital rights, the US, Europe, Africa, the Middle East and rest of the world.
By Teennews1 News Desk

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