File pic of the IPL trophy.© Twitter
On-line retailer Amazon has pulled out of the bidding race for the Indian Premier League media rights for 2023-2027 cycle, sources advised NDTV on Friday. Amazon’s pull out means the likes of Mukesh Ambani’s Reliance, Disney and Sony Group amongst others are within the field seat to win the rights to broadcast the cash-rich league.
Star India had edged out Sony Photos to safe the Indian Premier League‘s media rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017. With this deal, the price of an IPL match had change into round Rs 55 crore.
In 2008, Sony Photos Community gained the IPL media rights for a interval of 10 years with a bid of Rs 8200 crore. The worldwide digital rights of IPL for a interval of three years was awarded to Novi Digital in 2015 for 302.2 crore.
The match was expanded from eight groups to 10 groups this yr with Gujarat Titans and Lucknow Tremendous Giants being included from the 2022 season. Gujarat Titans went on to win the match in its maiden season final month.
The expansion in IPL’s model worth was seen from the value that the 2 new franchises fetched final yr.
The RPSG Group, an Indian conglomerate, gained the bid for the Lucknow franchise of the Indian Premier League (IPL). The successful bid was of Rs 7,090 crore, the BCCI had revealed in a press launch.
The opposite franchise, primarily based out of Ahmedabad, was purchased by CVC Capital Companions, a personal fairness and funding advisory agency, for Rs 5,625 crore.
(With company inputs)
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