The Board of Control for Cricket in India (BCCI) on Tuesday announced that the tender of Indian Premier League (IPL) Media Rights for the 2023-2027 cycle will be released immediately after the appointment of two new IPL teams.
Issuing a statement, the board said that the tender for the next cycle will be released as soon as the two new franchises for the cash-rich league is finalised.
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” the board secretary Jay Shah said in a statement.
Star India, which is the current official broadcaster of the cash-rich league, had bagged IPL’s media rights for Rs 16,347.5 crores for five-year cycle from 2018 to 2022.
As per reports, the value of IPL media rights for the next five-year cycle has been projected between Rs 25,000 crore to Rs 42,000 crore.
At present, Star India, Sony Pictures Networks India (SPNI), and Viacom18, which has the backing of Reliance Industries, are the three main contenders for the rights while Amazon is also likely to put a serious bid for it.