The Hindu : Sport / Cricket : SET, WSG get IPL rights

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Tuesday, Jan 15, 2008
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SET, WSG get IPL rights

Mumbai: Sony Entertainment Television (SET) Max and World Sport Group (WSG) has been awarded the Board of Control for Cricket India (BCCI) promoted Indian Premier League’s media and production rights for $1.026 billion for ten years from 2008 to 2017.

According to Mr. Lalit Modi, Vice-President, BCCI and Chairman and Commissioner of the IPL, SET and WSG were the only two who signed the tender document.

“These two and ESPN-STAR, Ten Sports, Nimbus, Providence Equity and NDTV had taken the tenders initially, but finally we had only SET and WSG. SET fulfilled the audience reach criteria. SET and WSG bid for $918 million and additional $108 million for promotional expenses,” said Mr. Modi.

The eight-team IPL Twenty20 will be played over a period of 44 days from April 18 and will involve 59 matches. The eight teams will be owned by eight franchisees who will be selected from among 32 corporates and private equity funds. The franchise bids will be opened on January 24.

Revenue model

A revenue model for the franchisees has been worked out and a major share will accrue from the media rights.

According to Mr. Modi the eight franchisees will receive 80 per cent of the media rights in the first year, 70 per cent in the second, 65 per cent in the third, 60 per cent in the fourth and 50 per cent for the remaining six years. — Special Correspondent

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