#IPL Media Rights Auction: Star India Wins ‘Global Bid’ Acquired The Right For Rs 16,347.50 crore :- Star India won the IPL media rights as well the channel won the same. So the much touted IPL Season 11 which is all set to start next year has been acquired by the Star India Channel. The Star India channel acquired right to showcase IPL from 2018-2022 with a massive amount of Rs 16,347.50 crore.
The proclamation and the announcement were made in the bidding process and the entire process took place in Mumbai on this Monday. Sony Pictures Network and India were the only two eligible bidders for IPL rights in this Indian television market.
#IPL Media Rights Auction: Star India Wins ‘Global Bid’
The bids of the Sony Pictures Network was divided into television and digital rights witnessed several big companies including, Yahoo, Reliance Jio, STAR India, Sony Pictures, Discovery, Sky, British Telecom, Facebook, Amazon, Twitter and ESPN Digital Media purchase and buy the bid.
Star India ultimately and gradually saw their bid accepted after Sony had bid for 11,050 crore rupees.
The bidding process for the broadcast of is the most marketable product in cricket; Indian Premier League (IPL) has gotten in progress on Monday, in Mumbai, with 13 bids already accepted by the broadcast.
24 companies actually appeared for the bidding process; only 14 went forward with their successful bidding.
Regular heavyweights like Star and Sony are eligible for the TV and online broadcast in India, while the likes of Reliance Jio, Times Internet, Facebook, and Airtel were proved eligible for the online broadcast.
Follow on, Perform Media, OSN, Econnect, Supersport and BeIN Sport are in the running for Global broadcast.
But right now there is some doubt surrounding Perform Media and BeIN Sport, so the companies of IPL team are yet to receive a full confirmation, of the same. The former is now need to send positive, curtained and specific document.
In the meantime, BeIN, who cannot disclose their financial status, as per the laws of the Qatar government, has been asked by the Indian cricket board to send a confirmation email which should be an issue, confirmed BCCI CEO, Rahul Johri.
As of now, BAM Tech remains the only bidder which can be disqualified after the initial doubt bids by the 14 firms were to be scrutinized.
Amazon, BT Sport, Yahoo, and Discovery are a few of the major players along the 10 firms have not placed their bids till now.
Update: Star has placed the highest bid of Rs 16,347.5 crore for broadcast rights in all over across the platforms. Cumulating of bids by everyone else amounts to Rs 1, 5809 crores.