Star retains BCCI Media rights in a record ₹6,138 cr deal
It is Star India yet again. The deal for the BCCI Media Rights’ Consolidated Package for the next five-year cycle (April 2018-March…
It is Star India yet again. The deal for the BCCI Media Rights’ Consolidated Package for the next five-year cycle (April 2018-March 2023) is cracked for a record ₹6,138.1 crore – at a per match value of 60.13 crores.
Incumbent Star India has prevailed over Sony Pictures India Network and Reliance Group-owned Jio Infocomm during the three-day-long e-auction process to win the BCCI Media Rights bid for the third successive time. This is 21st Century Fox-owned broadcaster’s fourth consecutive success in BCCI’s broadcast tender process – including two cycles of domestic media rights, the Indian Premier League for a trend-setting ₹16,347.5 crore and the BCCI broadcast production tender.
BCCI is set to earn ₹60.13 crore per match over the period of next five years, featuring 102 matches as per the FTP. This is a per match record fees paid for cricket by any broadcaster around the world – even leaving behind Star’s ₹55 crore commitment for per IPL tie.
The E-auction process has started on April 3 with the Consolidated Rights Package base price of ₹4,134 crore. ₹4,442 was the highest recorded last bid on Tuesday. The intense bidding war between India’s leading two broadcasters Star and Sony Pictures, further fuelled by the new player Jio Infocomm, has taken the bid values to a record ₹6,032.5 crore – raising the prospects of a billion dollar deal.
The e-auction process to decide the BCCI domestic media rights closed on the third day today in Mumbai with the winning bid ₹6,138.1 crore. This will amount to a world record ₹60.18 crore per match. This is almost ₹ 17 crores more than the ₹43.30 crore Star Sports has been paying to the board since 2014.
The BCCI Media Rights journey, which had started at an average ₹35.13 crore per match value with Nimbus Communications’ ₹2,704 crore four-year, 77-match deal, has over a span of 12 years has registered over 40% rise in per match value.
Star India had committed ₹ 3,851 crores for a six-year deal for the same rights. The deal was financially divided into two parts – ₹ 871.02 crores for 27 matches @ ₹32.2 crore per tie for 2012-2014 two-year cycle and ₹ 2,980.8 crores for 69 matches @ ₹43.2 crore per tie for 2014-2018 four-year cycle
The deal struck on Thursday has become the clincher for Star India to be the most sought-after single window destination for cricket in India.