Star Network secures BCCI media rights for a whopping INR 6,138.1 Crore

Star Sports India, a subsidiary of the Star Network India has secured the winning bid from the Board of Control for Cricket in India (BCCI) for a whopping INR 6,138.1 Crore. The network will now hold the rights for a period of five years, something that they have been battling over with the likes of Sony Pictures and the novel JioTV. Previously, Star had battled the likes of Sony Pictures to secure the winning bid to telecast the upcoming edition of the Indian Premier League.

However, while this would certainly be of great interest for the Star Network executives, this bid will prove to be an expensive one as well given the fact that it will now cost upwards of INR 60 Cr to telecast each game of the upcoming season of the IPL 2018. This is almost ₹ 18 crores more than the ₹43.30 crore incumbent rights holder Star Sports has been paying to the board since 2014.

The E-Auction process, a new way of bidding saw three bidders enter the fray and submit subsequent bids. This was the third day of the auction saw all three bids cross the 6000 Cr mark. The BCCI in India media rights e-auction bidding value has reached ₹6,111.70 crore. The second e-bid on Day Three has registered a rise of ₹79.20 crore oversaw last bid on Wednesday.

Sony to telecast India overseas

While Star has bagged the rights and will continue to serve as the jersey sponsor for the Indian cricket team, Sony Pictures will be the beneficiary of telecasting the Indian cricket team as they ply their trade overseas. The team, under their charismatic skipper Virat Kohli will be touring England and Australia later this year.

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