India cricket media rights sell for record $944m

Indian cricket team celebrating a wicket (Getty Images)
Indian cricket team celebrating a wicket (Getty Images)

New Delhi - India's cricket board Thursday struck a record $944 million deal with broadcast giant Star India for the media rights of the national team, adding to their substantial television wealth.

The amount was 60 percent higher than the last sale for the rights to India's national teams and domestic tournaments.

Rupert Murdoch's Star beat rival bidders including Sony and Reliance Jio to win the television and digital rights for 2018-2023, the Board of Control for Cricket in India said.

The BCCI said in a Twitter statement that international and domestic rights had been sold for 61.38 billion rupees ($944 million).

BCCI treasurer Anirudh Chaudhary said on Twitter that the sum was the equivalent of more than 60 million rupees ($935,000) per match included in the deal.

Star paid 38.5 billion rupees ($592 million) for the broadcast rights to India's home matches for 2012-2018.

Star also paid a massive $2.55 billion last year for the media rights to the BCCI's lucrative Indian Premier League Twenty20 tournament. That five year deal also starts from 2018.

The first internet rights auction in cricket - with each rival having a unique log on for bidding - lasted for three days before Star placed its winning bid.

Initially six companies, including Facebook and Google, entered the fray to bid for international and domestic matches in India from April 15, 2018 to March 31, 2023.

 

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