IPL is going to rain money! BCCI can earn Rs 36,000 crore from broadcasting rights alone
|IPL is going to rain money! Image credit: hindustantimes.com|
- The Indian Cricket Board is set to double its revenue in the wake of the IPL. According to a recent report, the Indian board could earn about 5 billion or about Rs 36,000 crore from the auction of the rights to broadcast the next round of the IPL.
There has been a downpour of money in Indian cricket since the advent of the Indian Premier League, but that rain has never stopped, on the contrary, it has been raining down money day by day. On the one hand, Team India's 'Bench Strength' has become stronger, on the other hand, the BCCI has increased its financial strength. This time BCCI is going to increase its financial strength further in 2022.
Star India currently owns the broadcasting rights to the IPL. They spent about Rs 16,348 crore or about 2.5 billion for five years between 2016 and 2022. This right of the star will end after the 2022 season. As a result, new broadcasting rights will be auctioned for the next 5 years between 2023 and 2026. The BCCI announced last month that the two new teams would be without a tender for broadcasting rights for the next five years after the announcement.
Talking about the value of media rights, a BCCI official added, "The two teams are expected to earn between Rs 6,000 crore and Rs 10,000 crore." In this case, the price of broadcasting rights can skyrocket. So it is expected that the cost of IPL broadcasting rights could be as high as 4 billion and as high as 5 billion. '