Star India has retained the worldwide TV and digital rights to Indian cricket for Rs 6138 crore ($944 million) for the period 2018-23 after a three-day bidding process. In the first e-auction of its kind, Star India prevailed over Sony and Jio in the bidding, with an average of Rs 60.1 crore per game. The rights are for a proposed 102 matches.
The winning bid by Star means BCCI stands to gain over 62% from what it had been paid for the previous cycle. Star had paid Rs 3851 crore for broadcasting rights to India’s home matches from 2012-2018. After this deal, they have a virtual stranglehold on cricket broadcast right in India, having bought the five-year IPL rights for Rs 16,347.5 crore in September last year.
On Wednesday itself, the bids had already exceeded the per match value of Indian Premier League. In IPL, BCCI is paid around 54.49cr per match.
The bidding war between Star, Sony and Jio had seen the Rs 6000 crores mark breached on the second day itself and as expected there was limited activity on the third morning on Thursday.
Starting at 6032.5, there was one bid of 6111.7 crorers received around noon. There was a complete lull for three hours thereafter before the announcement that the winner would be named at 5 pm.
Overall, the e-auction proved to be a stunning success for the Committee of Administrators who have run the BCCI through its CEO Rahul Johri.