Bidding War Continues As BCCI’s Media Deal Gets Close To Billion Dollars

The media rights for broadcasting Indian cricket team's home games for the next five years is nearing the billion dollar mark at the end of the second day.

The e-auction for rights, where major broadcasters like Star and Sony, and new entrant Reliance Jio are bidding, stopped at Rs 6,032.5 crore on Wednesday. That's already more than the previous winning bid of Rs 3,851 crore by Star in 2012.

After the second day, BCCI's media rights' value has already gone up 56 percent with the per match value at Rs 59.16 crore for 102 international games across the three formats of the game. This is already Rs 17 crore more compared to Rs 43 crore (per match) during the earlier period (2012-2018).

Also Read: BCCI Media Rights: First Day Of E-Auction Stops At Rs 4,442 Crore

“We don't know who has the top bid but the pattern indicates that all three are still in the race if you see the bid amounts,” the senior official, who is tracking the auction, added.

The BCCI is expecting that a clear winner will emerge by late afternoon tomorrow. “Every bidder has its threshold. They are slowly reaching that point. If it reaches Rs 7,000 crore, it will be another landmark financial deal for Indian cricket," said the official.