In what could go down in the history of cricket as one of the dearest acquisitions of media & marketing rights of a tournament, ESPN Star Sports (ESPN) won an international bid to secure ten-year commercial rights for the Champions League Twenty20, beginning this December, for $975 million (upwards Rs 4,000 crore). Of this, ESPN paid $900 million for the broadcast rights and $75million for the marketing rights of the tournament.
The deal grants ESPN the exclusive global commercial rights for all the matches in the inaugural Champions League Twenty20 season, due to be held from December 3 to 10, 2008, and for all further Champions League Twenty20 seasons until 2017. ?This makes the Champions League Twenty20 the highest value cricket tournament on a per game basis?, said an ESPN release.
Other players that ESPN outbid for the rights were Abu Dhabi Sports Club and Dubai Investment Council. While Dubai Investment Council bid $751.3 million for the rights, the bid of Abu Dhabi Sports Club?s was disqualified for being a conditional one.
Lalit Modi, chairman & commissioner, Indian Premier League (IPL), said, ?After a fair and transparent process, we have the best commercial deal for the inaugural Champions League Twenty20 season. All the bids received were of a very high standard.?
Manu Sawhney, managing director, ESPN Star Sports, said, ?This win is a testament to our commitment to the game of cricket and its fans as we cement our relationship with the BCCI, Cricket Australia and Cricket South Africa. Through our television channels?ESPN, Star Sports & Star Cricket?our website and our wireless platforms mobile ESPN and STAR Sports Mobile, we are confident of taking the Champions League Twenty20 to new heights.?
The inaugural edition will have eight teams, consisting of the reigning winners and runners-up from the domestic Twenty20 competitions in India, Australia and South Africa. Also, the winners of 2008 Twenty20 championships (to be held in October 2008) from Pakistan and the reigning Twenty20 Cup champion from England, Middlesex have been invited to contest the 2008 Champions League Twenty20. The tournament will be contested by 12 teams in the year two between September 25 and October 10, 2009.
James Sutherland, CEO, Cricket Australia, said, ?With ESPN Star Sports as our global commercial rights partner, the benefits of this global event will flow down to the interstate cricket level in Australia and in other participant nations, and greatly enhance cricket at the grassroots level, particularly for state-level players who get a chance to pit their skills against players from around the world.?
The prize money of $6 million will be shared between the teams and their players. The governing council of the event together with its founding cricket boards believes that the significant prize money to be shared by teams and players will ensure that the benefits of the event will foster cricket?s development by injecting new funding into domestic-level cricket.