The IPL has created a huge buzz after its consolidated media rights were sold to Star India for a whopping US$2.55 billion.
The media rights, which combine television and digital coverage as one package, have been sold for a five-year period, starting next year and running until 2022.
So exorbitant is the value of the deal that it has dwarfed the media rights for the Indian national team.
Star India currently holds the rights to telecast national team matches until 2018. The value of that deal is approximately $600m for a total of 96 matches – around $6.7m per fixture.
On the other hand, the staggering amount bid for the IPL means that one match would cost Star India $8.47m.
For the first time since the IPL began, the broadcast rights for a single IPL match are worth more than an India home international. #IPL
— Anand Vasu (@anandvasu) September 4, 2017
The difference between the two showcases the ever-growing commercial value of the T20 format to broadcasters – with sponsors paying a premium to ensure their brands are seen in front of huge audiences.
India has been the economic behemoth of the cricketing world for some time now with its cricket-crazy population of over a billion people.
In comparison, the Big Bash League (BBL) of Australia sold its media rights for $20m per year, though that deal is up for reconsideration soon.
In broader sporting terms, the huge amount of money poured into the IPL means the competition holds it own on the world stage, but the English Premier League is top of the three when it comes to monetary value.
The Premier League media rights are valued at approximately $ 6.7 billion (from 2016-19), meaning each match costs a whopping $13.15m.
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
Similarly, the NFL brings in about $22.47m per game. In the NBA, each contest equates to $1.99m.
It is clear to see that the growth of the IPL has been tremendous and the revenues are pouring in. If the current trend continues, it will not be long before the franchise-based model will be counted among the most lucrative television deals in the world of sports.
That belief was indeed evident when Star India CEO Uday Shankar spoke to reporters after winning the bid.
“We believe the IPL is a very powerful property, and we believe there is lots more value that can be created for fans of cricket on digital and TV,” Shankar said.
“India, cricket and IPL have changed dramatically since 2008, and this bid is a reflection of that.”
The Board of Control of Cricket in India (BCCI) has announced that Star India has bagged the Indian Premier League (IPL) television and digital rights for a whopping US$ 2.55 billion (INR 16,347.5 crore) from 2018-2022.
There were a total of seven categories up for grabs: television rights for India, digital rights for India and rights for the USA, Europe, Middle East, Africa and the rest of the world.
A total of 24 firms had bought the tender documents though only 14 of them had bid for the rights.
— IndianPremierLeague (@IPL) September 4, 2017
Star India made a consolidated bid for the all seven markets which was larger than the combined sum of the highest bid in each category.
Sony and Star India were the only two bidders left in the fray for the Indian market after the bids were evaluated on Monday morning.
The World Sports Group (WSG) had won the initial television rights for the IPL in 2008 for $918 million for a ten-year period. These rights were then bought over by Sony for $1.63 billion in 2009.
— Lalit Kumar Modi (@LalitKModi) September 4, 2017
Meanwhile, Star India had held the previous rights for the Indian digital market on a three-year deal from 2015 to 2017.
Star India chairman Uday Shankar expressed delight at winning the lucrative bid and said “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.”
“We would remain committed to ensure the growth of sports in this country continues to be driven by the power of cricket.”
“India, cricket and IPL have changed dramatically since its inception (in 2008) and this bid is a reflection of that,” the CEO told reporters.
Indian team sponsorship – OPPO 1079 crores
IPL title sponsorship – VIVO 2199 crores
IPL media rights – STAR 16347.50 crores
— Bharath Seervi (@SeerviBharath) September 4, 2017
BCCI CEO Rahul Johri said, “Our main endeavour to the stakeholders was to provide a transparent process where there should not be any iota of doubt.”
The new deal would see the IPL edge out the national team in terms of cost per match from 2018 onwards.
The current cost of one Indian national team match is INR 45 crore while Star India’s new bid would mean one IPL match would cost INR 55 crore.
Chennai Super Kings (CSK), one of the most successful teams in the history of the Indian Premier League (IPL), will make a return to the tournament in 2018 after having served a two-year suspension.
In the eight seasons that they have taken part in the IPL, the Chennai-based franchise have reached the final four every single time, making the final in six editions and winning the competition twice.
IPL 2008 – Finalists
IPL 2009 – Semi-finalists
IPL 2010 – Winners
IPL 2011 – Winners
IPL 2012 – Finalists
IPL 2013 – Finalists
IPL 2014 – Third (lost in Qualifier 2)
IPL 2015 – Finalists
In addition to such consistency in the IPL, CSK also won the Champions League T20 twice.
CLT20 2009 – Did not qualify
CLT20 2010 – Winners
CLT20 2011 – Group Stage
CLT20 2012 – Group Stage
CLT20 2013 – Semi-finalists
CLT20 2014 – Winners
It’ll come as no surprise that Suresh Raina has played the most matches and scored the most runs for CSK.
On the other hand, Ravichandran Ashwin has been their most successful bowler.
(NOTE: Includes IPL and CLT20)
Suresh Raina – 156
MS Dhoni – 153
Ravichandran Ashwin – 121
Suresh Raina – 4541
MS Dhoni – 3436
Michael Hussey – 2213
Ravichandran Ashwin – 120
Dwayne Bravo – 93
Albie Morkel – 91
Two players representing CSK have won the Orange Cap for being the top run-scorer in a season: Matthew Hayden in 2009 and Michael Hussey in 2013.
The Purple Cap for being the highest wicket-taker in a season has been won thrice by players representing CSK: twice by Dwayne Bravo in 2013, 2015 and once by Mohit Sharma in 2014.