A newcomer bags media rights to broadcast Team India's home games

Viacom 18 has managed to acquire the rights of Board of Control for Cricket in India (BCCI) international games which will majorly deal with India's home games in various bilateral series. The new entrants, Viacom 18 who primarily broadcast all the live sporting action on Jio Cinema has reportedly won both digital as well as television rights of the BCCI games in India.

3 things you need to know:

• BCCI's media rights contract with Star Sports Network ended in March 2023 
• Previously Star Sports Network held the rights to broadcast matches on TV and digital platforms
• Team India will play its next home series in the last of September 2023 against Australia

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Viacom 18 bags TV and digital rights for Indian cricket team's home matches for five years#Cricket #BCCIMediaRights

— Press Trust of India (@PTI_News) August 31, 2023

Viacom 18 Media Private Limited has acquired the Media Rights from September 2023 to March 2028 for a cumulative figure of INR 5,963 crores, subject to execution of definitive documentation and completion of formalities as required by BCCI, and other obligations specified in the ITT being completed.

Ernst & Young were the strategic advisor for the BCCI Media Rights. Argus Partners were the legal advisor to assist in drafting the tender documents. Mjunction Services Limited provided the platform for the smooth conduct of the e-auction. 

BCCI President Roger Binny said: 

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.

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BCCI secretary Jay Shah in a statement said:

Congratulations Viacom18 for winning the BCCI Media Rights for both linear and digital for the next 5 years. India Cricket will continue to grow in both spaces as after IPL and WPLT20, we extend the partnership BCCI Media Rights as well. Together we will continue to capture the imagination of Indian cricket fans. Also a big thank you to Star India and Disney+Hotstar for your support over the years. You played a key role in making India Cricket reach its fans across the globe.

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BCCI ends association with Star Sports Network

The current broadcast deal between BCCI and Star Sports Network ended back in March 2023. On August 2, 2023, BCCI issued a press release that included the invitation to tender BCCI's media rights for both domestic and away matches. The Indian cricket team will be playing a crucial bilateral series against Australia and England in the coming days.