IPL Media Rights Auction Day 2 Highlights: BCCI on track to earn way over ₹50,000 crore
Introduction
The IPL’s media rights auction has come to an end. The BCCI has emerged as the biggest winner of the day, with a total purse of ₹14,972 crore. With BCCI set to earn way over ₹50,000 crore from the auction, it looks like the governing body is on track to meet its target of doubling its profits from the league by 2017.
IPL Media Rights Auction Day 2 Highlights
The Indian Premier League (IPL) Media Rights Auction Day was a huge success for the BCCI. The Board is expected to earn way over ₹50,000, crore in revenue from the auction. The biggest winners of the auction were the franchises. The Chennai Super Kings, Mumbai Indians, and Rajasthan Royals all secured lucrative deals worth over ₹1,000 crore.
The IPL is set to continue to grow in popularity and importance, with new teams being added all the time. This year’s auction was a testament to the BCCI’s commitment to ensuring that the league is accessible to as many people as possible. The BCCI was able to secure the media rights for a whopping 8 out of the 10 teams in the IPL for a period of 5 years, which is an astronomical amount of money.
e-auction for the next five years of media rights for the Indian Premier League (IPL) (2023-27)
The Board of Control for Cricket in India (BCCI) is expected to earn way over ₹50,000, crore from the upcoming auction of media rights for the next five years, according to a report in The Economic Times. The e-auction is set to take place on June 13 and 14 and will see the BCCI sell its media rights for the next five seasons, starting from 2023. The report said that the BCCI’s projected earnings from the sale are likely to be around ₹50,000 crore. This means that the BCCI will earn more than what it earned from the previous auction, which took place in 2017.
In October last year, the Supreme Court ruled that the BCCI could not televise matches live and instead had to offer its media rights through an e-auction. This was after a public interest litigation (PIL) was filed by advocate Prashant Bhushan seeking greater transparency in the cricketing body’s affairs. The BCCI plans to use this money to improve its infrastructure and support cricket development in various states. The Board also plans to spend this money on training and developmental programmes for young cricketers.
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