Disney's Star has retained the Indian Premier League's (IPL) television rights for the Indian subcontinent for the 2023-27 cycle in a deal worth 235.75 billion Indian rupees ($3.02 billion), the Indian cricket board (BCCI) said on Tuesday.
Digital rights for the annual Twenty20 tournament went to Viacom 18 for 237.58 billion Indian rupees ($3.05 billion). The BCCI received 483.9 billion Indian rupees ($6.20 billion) overall from the media rights for the five-year period.
Star India, owned by Walt Disney Co, had paid 163.48 billion Indian rupees ($2.09 billion) for the combined television and digital rights of the league's previous five-year cycle.
"The BCCI will utilise the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India," tweeted BCCI secretary Jay Shah.
"Now, it's time for our state associations, IPL franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder - 'the cricket fan' - is well looked after."
The bidding for the media rights began on Sunday.
The IPL, counting top Indian industrialists and Bollywood stars such as Shah Rukh Khan among its franchise owners, is often seen as a surefire ticket to high TV ratings and growth in India's booming online streaming space.
Gujarat Titans, owned by European buyout firm CVC, won the 15th edition of the league, beating Rajasthan Royals in the final on May 29 in front of more than 100,000 fans in Ahmedabad. — Reuters
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