Star India wins BCCI media rights for whopping Rs Rs 6138.1 cr in first-ever e-auction

By: |
New Delhi | Updated: April 5, 2018 4:38:38 PM

Star India won the BCCI media rights in the first ever e-auction conducted in Mumbai for a whopping Rs 6138.1 crore. Star beat other big players like Sony and Reliance (Jio) apart from digital giants Google and Facebook to win the bid for the next five years.

bcci media rights, bcci eauction, bcci media rights eauction, bcci, media rights, indian cricket team, virat kohli, bcci broadcasting rights, bcci rights, star india, sony, sports newsThe Indian cricket team after winning the Nidahas Trophy. (Source: BCCI)

Star India won the BCCI media rights in the first ever e-auction conducted in Mumbai for a whopping Rs 6138.1 crore. Star beat other big players like Sony and Reliance (Jio) apart from digital giants Google and Facebook to win the bid for the next five years. Under this deal, Star India will broadcast 102 international matches (22 Tests, 42 ODIs and 38 Twenty20 Internationals) at home in the next five-year cycle. This includes a Test series against England and Australia each at home. The amount that Star will pay comes down to Rs 60.1 crore per match. Star India now owns the rights to the Indian Premier League, India domestic and international cricket and ICC events.

The BCCI conducted the auction in for three specific categories:

i) the Global TV Rights plus Rest of World (ROW) Digital Rights package

ii) Indian sub-continent Digital Rights package and,

iii) Global Consolidated Rights package.

“BCCI Media Rights: Sony, Star and Reliance named eligible parties for bidding for all the 3 packages,” the board had said in a tweet on Tuesday. Unlike the traditional method, the bidders were asked to submit their bid online. While the bid flashed on the screen, the bidder’s name was not disclosed. Each bidder had 30 minutes to increase the bid, and the increment was by Rs 25 crores.

The BCCI had set a reserve price of Rs 35 crore per match for 2018-19 season for the global TV and ROW Digital Rights, Rs 8 crore for Indian sub-continent while Rs 43 crore was the starting bid for the Global Consolidated Rights.

Last year, Star had pipped Sony to win the race for Indian Premier League’s media rights for Rs 16,347.5 crores for a consolidated (TV + digital) winning bid for five years.

The e-auction had started at 2 PM on April 3 with just three competitors – Star India Pvt Ltd, Reliance Industries Limited, and Sony Pictures Networks India after the evaluation of technical and financial feasibility.

Day 1 had ended with the top bid of Rs 4442 Crore for GCR package – 15 per cent in excess of the winning bid of the previous five-year cycle. On day 2, the e-auction had ended on Rs 6032.50 Crore – 56.65 per cent hike.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Who is P Gururaja? Weightlifter who bagged India’s first Commonwealth Games 2018 medal wanted to be a wrestler
2India thrash Sri Lanka 3-0 in women’s Table Tennis at Gold Coast Commonwealth Games
3Commonwealth Games 2018 LIVE Updates: Mirabai Chanu wins Gold, India on top in medal tally