Image credit: BBC

The Indian Premier League, the world’s richest cricket competition, has been sold for a record $6.02 billion (£5.13 billion) in streaming and television rights for the next five years.

For $3.05 billion (£2.53 billion), Viacom18, backed by Indian billionaire Mukesh Ambani, obtained streaming rights until 2027.

The TV contract was kept by Disney-owned Star India for $3.05 billion (£2.53 billion).

The two accords are more than quadruple the $2.4 billion Star paid for the IPL’s previous five seasons.

In terms of cost-per-match, the IPL is among the highest-ranked sports leagues, alongside the NFL in the United States and the English Premier League.

The winning prize for the TV rights was $7.36 million (£6.1 million) per game for a term that includes 410 IPL matches.

The digital streaming rights for the annual two-month competition were sold for $6.4 million (£5.3 million) per match starting in 2023.

“The scope and future potential of streaming in India is demonstrated by the fact that digital rights value was larger than television,” said Mihir Shah, vice president of Media Partners Asia.

The cash generated by the IPL, according to Jay Shah, secretary of the Board of Control for Cricket in India, aids grassroots cricket in the country by sponsoring infrastructure renovations and facilities.

“Now is the moment for our state associations and IPL teams to collaborate with the IPL to improve the fan experience and guarantee that our most important stakeholder – the cricket fan – is well-served,” he said.

The IPL is one of the most popular sporting tournaments in the world, attracting many of the game’s best cricketers who are lured in by huge contracts.

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