How Will BCCI Share Rs 48,390 Crore from the IPL Media Rights Auction?
The IPL Media Rights were auctioned for Rs 48,390 crore after a 3-day auction.
The recently concluded media rights e-auction for the IPL saw some big numbers being put on the table by the likes of Star India, Viacom 18 and Times Internet. The BCCI Secretary Jay Shah announced on Wednesday that the rights had been sold for a whopping Rs 48,390 crore for the next five-year cycle of the IPL.
Each match from now on in the IPL will be worth a little over Rs 118 crore, which the broadcasters will pay to the BCCI. This is also the first time that the IPL has 3 different broadcasters. The IPL remember is now the second most lucrative sporting league in the whole world after the NFL.
So, how exactly will the money be divided among the various stakeholders in Indian cricket?
Of the Rs 48,390 crore that the BCCI will receive for the media rights, half of it is earmarked for the 8 franchises - Mumbai Indians, Chennai Super Kings, Kolkata Knight Riders, Rajasthan Royals, Royal Challengers Bangalore, Sunrisers Hyderabad, Punjab Kings and Delhi Capitals.
Lucknow Super Giants and Gujarat Titans, who have just made their entry into the tournament will have to wait a while before getting as much of the pie as the others. It is expected that the 8 IPL teams will get around Rs 3,000 crore.
The Other Half (Rs 24,195 crore)
The rest of the money is set to be distributed among players and the state associations. According to a report in Indian Express, the BCCI will set aside 26% for distribution among domestic and international players, and 4% is to be used for staff salaries.
The remainder of the 70% of the second half of the media rights package is meant for the various state associations.
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