Viacom 18 Secures BCCI Media Rights for Rs 5963 Crore From September 2023 to March 2028

Viacom 18 Media Private Limited has emerged as the triumphant bidder for the coveted BCCI Media Rights, spanning from September 2023 to March 2028. The e-auction witnessed Viacom 18 securing the rights for a cumulative sum of Rs 5,963 crore. The acquisition marks a significant milestone for both Viacom 18 and the Board of Control for Cricket in India (BCCI), underscoring the growing prominence of cricket in the nation.

The BCCI had extended an Invitation to Tender (“ITT”) for Media Rights encompassing BCCI International Matches and Domestic Matches, spanning from September 2023 to March 2028. The process culminated in an e-auction on Thursday, where eligible bidders engaged in a competitive bid to secure the coveted rights.

The strategic advisory role was held by Ernst & Young for the BCCI Media Rights, with legal guidance provided by Argus Partners for drafting the tender documents. The e-auction was smoothly facilitated by Mjunction Services Limited.

BCCI President, Roger Binny, expressed his elation at the outcome, stating, “The recent BCCI e-auction has unequivocally demonstrated the vigour of cricket in India. The remarkable journey of Indian cricket, its meteoric rise on the global sporting arena, owes its success to the unwavering trust that people have vested in the BCCI leadership and its dedicated workforce. With the staunch support and collaboration of every stakeholder within our cricketing ecosystem, I am confident that we will continue to propel the brand BCCI to uncharted territories on the global sports stage.”

BCCI Honorary Secretary, Jay Shah, echoed the sentiment of progress and unity, stating, “It fills me with immense joy and a profound sense of pride to witness the remarkable growth of brand BCCI. Today’s e-auction has propelled BCCI into the upper echelons of per-match media rights valuation, marking a monumental stride in our journey. Throughout this process, we have steadfastly upheld the principles of transparency and fairness, ensuring that all stakeholders are treated equitably.”

In line with BCCI’s commitment to nurturing cricket’s development in India, Shah emphasized the profound impact of media rights revenue on grassroots cricket across the nation.

Viacom 18’s successful bid signifies their renewed partnership with BCCI, one that extends beyond commercial interests. The partnership reflects shared dedication to enhancing cricket’s landscape and contributing to its enduring legacy.

The sentiment was shared by BCCI Vice President, Rajeev Shukla, who welcomed Viacom 18 into the BCCI fold. Shukla commended the unwavering faith of India Inc. in Brand BCCI, affirming the sport’s enduring appeal and potential for growth.

BCCI Honorary Treasurer, Ashish Shelar, extended gratitude to all participants in the process, recognizing their contributions to India’s cherished sport. He congratulated Viacom 18 for securing the partnership, noting its significance as a commitment to enhancing cricket’s narrative and legacy.

BCCI Honorary Jt. Secretary, Devajit Saikia, extended a warm welcome to Viacom 18 and expressed appreciation to all bidders, highlighting their enthusiasm for contributing to Indian Cricket’s journey of growth.