control board for Cricket In India (BCCI) on Wednesday confirmed that the media rights for the 2023-2027 cycle of the Indian Premier League (IPL) have been sold. The board said it earned a whopping Rs 48,390.32 crore from the deal, making the T20 league the second most valuable sporting asset in the world.
BCCI General Secretary Jay Shah extended his best wishes to the winners who bagged the deal in the e-auction.
“It gives me great pleasure and makes me proud that IPL It has grown to what it is today. The e-auction today has propelled IPL to the big leagues in terms of media rights value per match. We ensured that the process is transparent and fair to all stakeholders. I congratulate all the winners and thank the bidders for participating in the e-auction process,” Shah said in a statement.
“I would also like to express my gratitude to the market forces for believing in the brand and showing their faith and belief in BCCI to take IPL to new heights. I am confident that together we will continue to add value to the IPL brand and make it the largest sports league in the world in terms of revenue, participation and performance.
Shah further informed that the amount received in the e-auction will be used primarily for the upliftment of cricket in India. He said that the board plans to start a full-fledged women’s IPL from 2023 and is actively working on it.
“The whole idea is to balance cricketing and business interests as BCCI is committed to the development of sports in the country through cricket. The money we earn through media rights will ultimately benefit grassroots cricket in India and that’s what matters. BCCI is also committed to start women’s IPL in 2023 apart from creating maximum opportunities for the development of women’s cricket in the country,” Shah said.
“In an effort of the BCCI to ensure that the sport goes beyond cricket, it is also setting up indoor sports academies and stadiums at select locations in the Northeast to promote sports in every nook and corner of the country. The BCCI will also create a resource pool to provide pension and financial assistance to widows of former players and cricketers.
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