IPL Media Rights: The two winners of the IPL Media Rights Disney Star and Viacom18 are in talks with private and public sector banks for a bank guarantee. Disney-Star won the broadcasting rights for Rs 23,575 crores. Viacom18 paid Rs 23,758 crores to acquire digital rights. Follow Cricket and IPL news with InsideSport.IN
“Both companies need to submit bank guarantees (BGs) to fulfil their obligations toward the cricket board and are in advanced talks with more than half a dozen lenders to complete their respective deals,” an official with knowledge of the negotiation told Economic Times.
IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in talk with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details
IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in talk with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details
IPL Media Rights: Disney-Star & Viacom18 set the ball rolling
- Disney-Star is in talks with Deutsche Bank, HSBC, Standard Chartered Bank and BNP Paribas.
- Viacom18 is having discussions with ICICI, State Bank of India (SBI) and HDFC for bank guarantees.
- Disney-Star and Viacom18 together are making arrangements for approximately Rs 9,600 crores non-fund-based guarantees.
- The BCCI can encash if any issues arise with payments during the period of the next five years. The bank guarantees will renew each year.
- Disney-Star needs to secure around 80% of the required amount to pay to BCCI for the first year of broadcast.
IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in talk with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details
Disney-Star needs to secure around 80% of the required amount to pay to BCCI for the first year of broadcast. Therefore, Disney-Star is having discussions with four banks, including Standard Chartered Bank, HSBC, BNP Paribas and Deutsche Bank. Approximately, the money amounts to Rs 4,715 crores.
As per Economic Times, Viacom18 is near to finalising a deal with three banks, including State Bank of India, HDFC and ICICI. Disney-Star may reach out to lenders based in the USA like JP Morgan and Bank of America to secure the rest of the 20% of the amount.
Disney-Star acquired Package A at a cost Rs 23,575 crores. Package A consists of broadcast rights. Viacom18 bagged Package B at a cost of Rs 20,500 crores. Package B consists of digital rights. Also, Viacom18 paid Rs 3,258 crores for non-exclusive package C. Package C consists of rights for opening games, three play-offs, final and weekend double-headers.
IPL Media Rights: IPL Media Rights winners Disney-Star and Viacom18 in talk with HDFC, ICICI, SBI, BNP Paribas, Deutsche Bank, HSBC & Standard Chartered Bank, Check Details
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