Lalit Modi expected a larger bid for IPL telecast rights
Former IPL Chairman, Lalit Modi believes that media rights for IPL deserved a higher bid after 10 years of unprecedented success.
Published - Sep 4, 2017 7:56 pm | Updated - Sep 4, 2017 7:56 pm
After noticing a rise in popularity of the T20 format after India’s triumph in 2007 World T20, BCCI decided to start a T20 league. The BCCI vice-president at the time Lalit Modi was handed the responsibility of running the league. Modi was made the first Chairman and Commissioner of the IPL and he ran the league for the first three years from 2008 to 2010.Shortly after IPL 2010 ended, Modi was suspended from his post but IPL continued to grow.
The BCCI’s brainchild completed 10 years this season and the telecast rights validity of the tournament expired. Today, BCCI conducted the bidding for the media rights for the league.
Star Sports bagged the media rights for the IPL for the next five years. The deal will cost the broadcasters a whopping Rs 16,347.50 crores. Star Sports, who earlier had the digital rights were awarded the broadcast and digital rights for the period of five years between 2018 to 2022.
There was an intense bidding war for the rights of the most famous cricket league. Star Sports had to beat stiff competition from the other 23 companies.
Lalit Modi not much impressed
Former IPL Chairman, Lalit Modi believes that media rights for IPL deserved a higher bid after 10 years of unprecedented success. The media rights auction for broadcast and digital rights were conducted separately. Both the rights combined were expected to yield over 20000 crores to the BCCI. But the winning bid by the Star Sports of 16347.50 crores is quite short of the target. The amount bided by the Star India has caught the imagination of the masses as such high figure is unheard in Indian sports. But considering the success and popularity of the world’s richest T20 league, Modi can’t be
Lalit Modi took to twitter to express his disappointment.
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
The amount bided by Star India has caught the imagination of the masses as such high figure is unheard in Indian sports. But considering the success and popularity of the world’s richest T20 league, Modi can’t be faulted.