Free Press Journal

Bidding war continues, BCCI e-auction for media rights touches Rs 6032 crore mark



Mumbai: The e-auction for BCCI’s media rights for the next five years is going to yield a record booty. Slowly inching towards the billion-dollar mark on the second day of the e-auction, the bidding stopped at a mind-boggling Rs 6032.5 crore.

In the fray are broadcasting majors Star and Sony and the new entrant Jio (Reliance). At stake are the media rights for India’s bilateral series at home in the next five year cycle (2018-2023). With the Indian team set to play 102 games at home in this cycle — from April 15, 2018 to March 31, 2023 — it means BCCI will get paid around Rs 59.14 crore per match.

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It has already exceeded the per match value of Indian Premier League. In IPL, BCCI is paid around Rs 54.49 crore per match, though the overall value of the T20 league (Rs 16,347.5 crore) is unmatched because it has more matches. The Global Consolidated Rights (which includes broadcast as well as digital rights for India and the Rest of the World) bid has already witnessed a quantum jump over the 2012 Star TV bid of Rs 3851 crore. At 96 matches, it had worked out to Rs 43 crore per game.

“This is the power of Indian cricket. It can resist any kind of negativity, administrative mess and even bigger controversies. The potential bidders know that in India, only one sport can give you proper return on investment. We don’t know who has the top bid but the pattern indicates that all three are still in the race if you see the bid amounts,” a senior BCCI official, who is tracking the auction, told PTI on Wednesday.

The BCCI brass is expecting that a clear winner will emerge by late afternoon tomorrow. “Every bidder has its threshold. They are slowly reaching that point. If it reaches Rs 7000 crore, it will be another landmark financial deal for Indian cricket,” said the official. The day started with top GCR bid of Rs 4442 crore. Subsequently, some of the top bids were Rs 4565.20 crore, Rs 5488.30 crore, Rs 5748 crore. It breached Rs 6000 crore mark (Rs 6001 crore) at around 4:30 pm before closing at 6032.5 crore — minutes before the cut-off time of 6 pm.