Mumbai: The country’s cricket board announced on Monday that, Star India will pay $2.55 billion for the digital rights and television of the Indian Premier League (IPL) for the next five years. Sony offered 110.5 billion rupees which is the only other bidder for the television rights of the world’s richest domestic Twenty20 competition. But it failed to star’s consolidated offer for the worldwide from 2018 to 2022.
Bidder for digital right included Facebook, Airtel, Bamtech, Jio and Supersports. Star India chief executive Uday Shankar told reporters, “We believe the IPL is a very powerful property, and we believe there is lots more value that can be created for fans of cricket on digital and TV”. He also said, “India, cricket and IPL have changed dramatically since 2008, and this bid is a reflection of that”.
It also reflects the world’s second most populous nation mania with cricket, especially the 20-over format. This competition began in 2008 with eight teams with owners including bollywood stars and India’s richest man Mukesh Ambani. India’s huge market is a major draw for advertisers and sponsors.