Amazon Pulls Out Of IPL Media Rights Race: Sources

Amazon Pulls Out Of IPL Media Rights Race: Sources

IPL trophy file photo.Twitter

Online retailer Amazon has withdrawn from the bid to bid for the Indian Premier League media rights for the 2023-2027 cycle, sources told NDTV on Friday. Amazon’s exit means that Mukesh Ambani’s Reliance, Disney and Sony Group are in the box seat to claim the rights to broadcast the cash-strapped league.

Star India pulled out Sony Pictures to secure. Indian Premier LeagueMedia rights for the 2017-2022 cycle with a bid of Rs 16,347.50 crore in September 2017. With this deal, the cost of an IPL match was about Rs 55 crore.

In 2008, Sony Pictures Network won the media rights to the IPL for a period of 10 years with a bid of Rs 8,200 crore. The global digital rights to the IPL were awarded to Navi Digital in 2015 for a period of three years at Rs 302.2 crore.

This year the tournament was expanded from eight teams to ten teams, including the Gujarat Titans and Lucknow Super Giants from the 2022 season. The Gujarat Titans won the tournament in their first season last month.

The increase in the brand value of the IPL is reflected in the price that the two new franchises achieved last year.

The RPSG group, an Indian party, won the bid for the Lucknow franchise. Indian Premier League (IPL). The winning bid was Rs 7,090 crore, the BCCI had revealed in a press release.

Promoted.

The second franchise outside Ahmedabad was bought by CVC Capital Partners, a private equity and investment advisory firm, for Rs 5,625 crore.

(With agency information)

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