IPL rights valuation will mirror the rise and growth of the league: BCCI secretary Jay Shah

"Two new teams mean more opportunities to the entire cricketing ecosystem. You can gauge the level of interest with the valuation for two new teams," Shah said.

Jay Shah
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Jay Shah. (Photo Source: Retuers)

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The upcoming edition of the Indian Premier League (IPL) will be a grand affair with the addition of two new franchises. The Board of Control for Cricket in India (BCCI) secretary Jay Shah has stated that the media rights for the cash-rich tournament will capture value worthy of the league’s rapid rise.

“The aspirational value of Brand IPL has surpassed anyone and everyone’s expectations,” Shah said in an interview with Reuters. While he declined to discuss precise figures, he said: “The valuation will mirror the rise and growth of the league.”

The BCCI is in line to invite tenders for IPL media rights 2023-27 cycle as early as the coming week before concluding the e-auction in two months, Shah said. Industry sources expect it will fetch as much as 500 billion rupees ($6.7 billion).

He further stated that the board had studied various models and proposals, amid expectations that separate TV and digital bids would be considered. That would mean a bid from Amazon.com Inc, with only a digital platform, might be accepted this time after the BCCI in 2017 selected a consolidated TV and digital bid.

Star India, owned by Walt Disney Co (DIS.N), paid 163.48 billion rupees for the 2018-22 cycle. The league will welcome two new franchises this season after Lucknow and Ahmedabad paid a combined $1.7 billion make their way into the biggest cricketing league.

Two new teams mean more opportunities to the entire cricketing ecosystem: Jay Shah

“Two new teams mean more opportunities to the entire cricketing ecosystem. You can gauge the level of interest with the valuation for two new teams,” Shah said.

The league counts Bollywood stars and billionaires among franchise owners and draws the best players globally.

“In just 14 seasons, we have recorded unprecedented figures that other popular leagues reached after decades,” Shah said. “Not just television but look at the numbers on digital.”

The 10-team league is expected to commence in the last week of March and will run until the last week of May.

($1 = 74.6701 Indian rupees)