The Indian Premier League’s media rights for the next five years have been sold for a whopping Rs. 48,930 crore (US $6.2 billion), said BCCI secretary Jay Shah on Tuesday.
Star India won the IPL TV rights for the Indian sub-continent with the highest bid Rs 23,575 crore, while Viacom18 bagged the digital rights with its winning bid of Rs 23,758 crore.
“Since its inception, the IPL has been synonymous with growth & today is a red-letter day for India Cricket, with Brand IPL touching a new high with e-auction resulting in INR 48,390 cr value. IPL is now the 2nd most valued sporting league in the world in terms of per match value!,” said Shah on Twitter.
“The BCCI will utilize the revenue generated from IPL to strengthen our domestic cricket structure starting from grassroots, to boost infrastructure and spruce up facilities across India and enrich the
overall cricket-watching experience,” he added.
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