IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore

IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore – STAR India won the Indian Premier League (IPL) global media rights from 2018-2022 with a consolidated bid of Rs 16,347.5 crore. Initially, 24 companies picked up rights papers to contest for the several rights up for grabs in the auction organised by the BCCI. Several big companies like Facebook, Amazon, Twitter, Yahoo, Reliance Jio, STAR India, Sony Pictures, Discovery, Sky, British Telecom and ESPN Digital Media purchased the bid. The bids were divided into television and digital rights. Following are the highlights of the IPL media rights auction. (BAN vs AUS Live Score) 

14:45 hrs IST: STAR India piped the 13 other companies to win the global media rights and their huge bid of Rs 16,347.5 crore ensured that they will hold all the rights from 2018 to 2022.

14:30 hrs: Here’s a look at the all the bids from the companies –

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IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore

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#IPLMediaRights | A look at all the bids from the different companies

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14:20 hrs IST: 

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So #StarSports wins global rights for @IPL I would’ve hoped a larger figure Deserved greater value after 10yrs of success #IPLMediaRights

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IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore

14:07 hrs IST: I would like convey my delight at finally being able to bring IPL to the rightful home, says Uday Shankar, the STAR India chairman.

14:00 hrs IST: I would like convey my delight at finally being able to bring IPL to the rightful home: Uday Shankar, the STAR India chairman.

13:50 hrs IST: Sony Pictures bid Rs 11,050 crore for India broadcast rights, STAR India bid Rs 6196.94 crore for India broadcast rights but Sony didn’t bid for other rights, except for one of Rs 84.50 crore while Star bid for all other rights and won due to its consolidated bid.

13:33 hrs IST: Star India wins India broadcast, India digital and the rest of world broadcast and digital.

13:29 hrs IST: It seems that STAR India’s global bid of Rs 16,347.5 crores will be accepted. Highest territorial combined bid was R 15,819.54 crore.

13:25 hrs IST: Sony, Star India, Supersort, Yupp TV, Econet, Gulf DTH OSN, Perform media, Airtel, Reliance Jio, Times Internet, Facebook, Followon Interactive and BeIN Sports were rendered eligible to bid.

13:19 hrs IST: Big names like Amazon, ESPN Digital Media, Twitter and Discovery refrained from entering the bidding process for the Indian Premier League media rights.

13:08 hrs IST: Sony Pics and Star India are the only two for India TV broadcast rights but they are also eligible to bid for all other rights.

12:50 hrs IST: Rest of the world eligible – SuperSport, Yupp TV, Econet, OSM (Gulf DTH).

12:47 hrs IST: Eligible for India digital – Airtel, Reliance Jio, Times internet, Facebook.

12:46 hrs IST: India broadcast – Sony and Star are eligible as the battle intensifies.

12:43 hrs IST: BeIN Sports have not provided their financial statement due to the laws of Qatar and their participation will depend on an e-mail stating that they will not be able to provide the document due to government regulations.

12:41 hrs IST: BamTech is disqualified because a lot of fundamental documents were missing from their bid.

12:35 hrs IST: Experts believe the Indian television broadcast rights are going to fetch the highest bid, but it is the digital rights which see the highest potential.

IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore

12:30 hrs IST: Interested companies can bid for all of the seven companies. The highest eligible bid win rights in each category. Also, BCCI has allowed a global bid, which will only win if it is higher than the sum of all highest individual bids.

12:21 hrs IST: The tension at the Indo-China border, however, has resulted in a sharp drop in July and August for Vivo and Oppo smartphone sales and there may be some uncertainty over title sponsorship in future.

12:18 hrs IST: In June, Chinese handset maker Vivo had bid a whopping Rs 2,199 crore to pocket the IPL title sponsorship rights, a significant jump over the initial Rs 50 crore per year price that DLF paid for the first five seasons.

12:10 hrs IST: IPL media rights are divided into seven different categories — Indian television rights, Indian digital rights, the US, Europe, Africa, the Middle East and rest of the world.

12:03 hrs IST: In cricket news, Bangladesh are 70/3 at lunch against Australia in their second Test match.

11:59 hrs IST: On August 31, ET had reported that even by conservative estimates, the rights are expected to fetch between Rs 12,000-14,000 crore.

11:50 hrs IST: Reliance Jio are clearly the dark horse in this auction and if there are able to get some of the rights, it can be a big win for the company.

11:46 hrs IST: 

IPL media rights auction highlights: STAR India sweeps all rights with world-record bid of Rs 16,347.5 crore

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11:34 hrs IST: The digital rights belong to STAR India currently and with big names joining the auction, it will be a tough fight.

11:28 hrs IST: Sony Pictures held the broadcast rights of the Indian Premier League after it paid Rs 8,200 crore for a 10-year deal in 2008.

11:20 hrs IST: According to some reports, it seems that technical evaluation to take approximately 2-3 hours.

11:13 hrs IST: This auction has seen a lot of bids from digital platforms and the contest for the digital broadcasting rights will surely be a tough one.

11:09 hrs IST: Chennai Super Kings and Rajasthan Royals will be making their IPL return after two years this season.

10:58 hrs IST: The main fight seems to be between STAR India and Sony Pictures as the other big names did not submit their bids.

10:55 hrs IST: The broadcast has resumed and a decision will be announced in some time.

10:48 hrs IST: Deloitte, Cyril Amarchand Mangaldas, Sports Mechanics are evaluating technical bids

10:40 hrs IST: In other cricket news, Nathan Lyon has provided Australia with a brilliant start as Bangladesh are struggling at 34/2 on Day 1 of their second Test encounter.

10:30 hrs IST: The evaluation process for the technical bids is currently underway.

10:24 hrs IST: Currently, Sony holds the broadcast rights of the IPL after it paid ₹8,200 crore for a 10-year deal in 2008. Star India owns the digital rights of IPL.

10:13 hrs IST: BCCI will hold the bidding for two major categories — broadcast and digital (internet and mobile) rights.

10:07 hrs IST: According to media watchers, BCCI could make a windfall gain of ₹13,000₹15,000 crore.

10:04 hrs IST: According to Duff & Phelps, a premier global valuation and corporate finance advisor, the IPL’s overall worthhas increased to $5.3 billion, from $4.2 billion last year.

10:02 hrs IST: Amazon , Taj TV , Gulf DTH, Group M, Media India, Sky Uk Ltd, ESPN Digital Media, BTG Legal Services, BTPLC , Twitter, Discovery didn’t submit the bids.

09:51 hrs IST: A total 14 companies are present for the auction. A total 24 had bought the bid documents

09:49 hrs IST: Finally, Reliance Jio, for whom former IPL CEO Sundar Raman is present.

09:48 hrs IST: Current rights holders Sony now. Econet and Perform Group follow.

09:47 hrs IST: Star India, one of the main players in fray, is called for their technical bid scrutiny. BamTech follows

09:44 hrs IST: Johri calls for OSN and Facebook for their technical bids. The process is going on fast as Airtel goes next.

9:43 hrs IST: Times Internet’s technical bid being checked next.

09:42 hrs IST: Followon and Yup TV are next up.

09:40 hrs IST: SuperSport is next.

09:39 hrs IST: Around 24 companies have entered the bid for television and digital rights of the world’s most popular T20 league. the first technical bid being checked is of DSport

09:38 hrs IST: IPL GC member Dr PV Shetty is also in attendance, Sourav Ganguly is also expected

09:36 hrs IST: 24 companies are there in the room right now. The auction will take place through the tender process. The technical bids will be opened first.

09:35 hrs IST: The BCCI office bearers are on the stage with COA member Diana Eduljee and CEO Rahul Johri

09:33 hrs IST: The auction is officially underway!

09:29 hrs IST: We are minutes away from the auction. Who will grab the all-important broadcast rights for India? Let’s find out.

09:23 hrs IST: The Board of Control for Cricket in India (BCCI) is gearing up for a windfall of over Rs 20,000 crore especially after the Supreme Court refused to direct the Board to conduct e-auction on the plea of BJP leader Subramanian Swamy.

09:14 hrs IST: This time around, 24 companies have entered the bid for television and digital rights of the world’s most popular T20 league.

09:06 hrs IST: The IPL media rights were first slated for September last year through an open-tender process. Around 18 companies were in contention then but the Supreme Court intervened to postpone the bidding.

09:00 IST: Welcome to the live coverage of the Indian Premier League media auction. 24 bidders will be looking to grab the various media rights for the next five years in this mega auction.

There will be separate bidding for USA, Europe, Middle East, Africa regions and the rest of the world. The period will be for five years.

The BCCI will conduct the bidding 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 will be determined by matching the bids which will be presented. The rights will be awarded to the highest bidder in each category. An interested party or a consortium can even make a bid for all seven categories. For India, television rights will be the most lucrative property.

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