Star India wins BCCI media rights for $945 million
The highest bid fell short of the billion-dollar mark but it means the broadcaster will pay $9.24 million for every international match in the 2018-2023 period.
The BCCI secured its position as the world's richest cricket board in September 2017, with the game's biggest TV deal when it sold Indian Premier League's (IPL) global media rights to Star India for $2.52 billion.
Star India bagged the global television and digital rights for cricket in India for the next five years on Thursday with a $945-million bid to complete their stranglehold on the coverage of the game in its commercial home.
"Star India bags BCCI India International and Domestic media rights for INR 6138.1 crore for the next five years," the Indian cricket board (BCCI) tweeted at the end of the three-day e-bidding, a first in cricket.
NEWS: Star India bags BCCI India International and Domestic media rights for INR 6138.1 crore for the next five years. pic.twitter.com/wf9yphXvc5
— BCCI (@BCCI) April 5, 2018
The highest bid fell short of the billion-dollar mark but means the broadcasters will pay $9.24 million for every international match in the 2018-2023 period.
Six companies, including Facebook and Google, initially entered the fray to bid for 102 matches in India.
Following scrutiny, Star India Private Ltd, Reliance Industries Limited, and Sony Pictures Networks India Private Limited were found eligible to submit online financial bids.
In September, Rupert Murdoch's Star struck cricket's biggest television deal to secure Indian Premier League's (IPL) global media rights for $2.52 billion, which consolidated BCCI's position as the richest board in the world.
Rupert Murdoch's Star paid $592 million (38.5 billion rupees) for the rights to broadcast India's home matches from 2012-2018.
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