$2.55billion Star India win IPL broadcast and media rights for five years

Media and entertainment company Star India have acquired the IPL’s  global broadcasting and digital rights  for a consolidated sum of $ 2.55 billion for a period of five years.

Star’s association begins with the 11th edition of the IPL in 2018.

The previous rights holder, Sony Pictures Network (SPN) India who have been the broadcaster for the first decade of the tournament were outbid.

“I would like to convey my delight being able to bring the IPL [to Star India] to what we believe is the rightful home of cricket in this country and elsewhere,” said Star India Chairman and CEO Uday Shankar. “The IPL is a very powerful property.

“We believe that a lot more value can be created for the cricket fans on broadcasting and digital platforms and we would remain very committed to make sure that the growth of sports in the country is driven by the power of cricket. It was a conscious call to bid for the global rights, we have significant presence in all forms and markets. In India we have an exciting and robust platform and our channels are globally distributed. It made sense for us to make an attempt and win it for all the markets. Everyone picked up their areas of strength and aspiration and put in their value. I would like to compliment the BCCI for running an immaculately transparent process.”

In all, 24 companies had picked up the Invitation to Tender (ITT) and 14 made bids. After the technical bids, the Walt Disney-owned  American video supplier, BAMTech was disqualified because it did not fulfil certain criteria; the other 13 who made the final cut were Star India, SPN (India), BeIN (Qatar), the U.K. based Perform Group, Follow On,  Yupp TV, OSN, Facebook, Airtel, Econet, Reliance Jio, Super Sport and Times Internet.

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