This is the BCCI's maiden e-auction.
The GCR comprises of TV broadcast rights as well as digital rights.
The Board of Control of Cricket in India (BCCI) attracted huge bids for the telecasting rights of Indian cricket team's matches and the big prize has finally been bagged by Star India. Star's bid was an increase of 59% from the previous cycle of Indian cricket rights, which were sold for INR 3851 crore (USD 750 million at the time) for the period 2012-18, also to Star.
"In the last few years we have grown the viewership of all forms of cricket".
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The e-auction this time saw Sony and Star fight a neck to neck battle as they kept increasing the bid for the prized broadcasting rights.
Star India will broadcast 102 men's worldwide matches over the next five years, compared to 96 in the previous six-year cycle. It is nearly Rs 17 crores more than the value in the previous cycle (Rs 43 crores) and Rs 6 crores more than an IPL game. In response, a bid of Rs 5,748 crore followed and the figure had jumped by more than Rs 1,300 crore from the closing bid (Rs 4,442 crore) received by the end of the first day.
Mr. Amitabh Choudhary, Acting Hony. "BCCI rights come expensive, but then good things have a price. Star and BCCI can transform the sporting experience of cricket for fans altogether".
A timeless process, the e-auction had the classic ebb and flow of a Test match as the three parties in the fray - Reliance Jio was the third - were locked in a slugfest for three days. It went on and on.
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Uday Shankar, Chairman, Star India and President, 21st Century Fox Asia, has a passion for sport, indeed, but when it comes to cricket, he has shown the inclination to give it a long shot. We are focussing more on consolidated rights. You had to be technically savvy. I congratulate the BCCI for putting across a scientific and a thoroughly transparent process. The amount will be Rs 77.4 crore and Rs 78.9 crore in the last two years. The BCCI's overall broadcasting earnings puts them ahead of the English Premier League (EPL), leaving only the NFL in the United States of America as the most opulent sports property.
Star previously paid $750 million for the 2012-2018 rights.
The deal does not include the multi-billion dollar Indian Premier League (IPL) which also is with Star India for the next five years at Rs 16,347.5 crore.
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