Star India bags IPL media rights with Rs 16347 crore bid for next 5 years

Courtesy: BCCI

New Delhi: In the end, it was Star India who emerged as the highest bidder in the Indian Premier League media rights auction for the next five years. Sony had bid for 11,050 cr in comparison to Star who had submitted a 16,347.5 cr bid.

READ: IPL redefines cricketing standards but nowhere near EPL, NFL or NBA

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14:00 IST: Here are the final figures:

Here are the final figures for IPL Media Rights for the period from 2018-2022. #IPLMediaRights pic.twitter.com/2y1m0X4701

— IndianPremierLeague (@IPL) September 4, 2017

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13:42 IST: The highest territorial combined bid was Rs 15819.54 cr but Star India's consolidated bid was more.

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13:35 IST: Star India wins broadcasting rights for IPL for next 5 years. They had submitted a bid of  Rs 16,347.50 crore. It has been learnt that they have also won digital & world rights.

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13:06 IST: Sony, STAR India in fierce battle for IPL broadcast rights, decision anytime now!

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12:50 IST: Technical evaluation is completed. The bidders eligible are:

TV (India): Sony Pictures and Star India

Digital (India): Airtel, Reliance Jio, Times internet, Facebook.

Rest of the world: Super Sport, Econet, Yupp TV, OSM (Gulf DTH).

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12:30 IST: Technical evaluation of bids under process, which will take a couple of hours.

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12: 24 IST: The rights have been categorised as broadcast and digital (internet and mobile), which will be given for a period of five years from 2018-2022.

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12: 18 IST: STAR and SONY submit their respective bids. Who will win this war?

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12:15 IST: The media rights are divided into seven different categories — Indian television rights, Indian digital rights, US, Europe, Africa, the Middle East and rest of the world.

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12:12 IST: The rights are expected to fetch between Rs 12,000-14,000 crore. Reliance Jio are clearly the dark horse and will be competing with Sony and Star for the broadcasting rights.

Out of the total 24 comapnies, 11 have not taken part in the bidding process, including Amazon, ESPN Digital Media, Twitter and Discovery.

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12:05 IST: Some pictures from the venue.

#IPLMediaRights  Photos - BCCI CEO @RJohri, @SonyTV & @reliancejio teams pic.twitter.com/XfxvaId87i

— BCCI (@BCCI) September 4, 2017

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Some of the biggest companies including, Facebook, Amazon, Twitter, Yahoo, Reliance Jio, Star India, Sony Pictures, Discovery, Sky, British Telecom and ESPN Digital Media purchased the bids which were divided into television and digital rights. In total, 24 bidders took part in the auction.

The bidding was conducted in the form of a tender process rather than the procedure of e-auction, something which the Indian board had opposed. The winner in each category was determined by matching the bids which will be presented. The rights were eventually awarded to the highest bidder in each category. A party capable enough and interested, can even make a bid for all seven categories. 

As far as the Indian scenario is concerened, television rights will be the most lucrative property. Separate bidding will be conducted for USA, Europe, Middle East, Africa regions and the rest of the world. The term will be for five years.

Vivo are the title sponsors of the IPL, retaining the sponsorship rights for 2018-22 for approximately USD 341 million