The Board of Control for Cricket in India (BCCI) promoted Indian Premier League on Wednesday signed a whopping Rs. 8,200-crore Official Broadcast Partner agreement for nine years (up to 2017) with Multi Screen Media (MSM, formerly Sony) and World Sport Group (WSG).
MSM will now bring the 59 matches live from South Africa on SET Max with the DLF-IPL Season II set to start in South Africa on April 18, a day after the fifth and final One-Day International between South Africa and Australia.
Last year IPL had signed a contract with WSG-Sony for $1.026 billion for 10 years which included a sum of $108 million for marketing and promotion.
After announcing that the DLF-IPL would hold the second edition in South Africa, the IPL has achieved a major breakthrough, managing to renew the contract with MSM for a sum that can be regarded as a windfall because last year the agreement for a 10-year period was for a sum close to Rs. 4,700 crore.
Under the agreement between the IPL and franchises, the latter would share 80 per cent of the revenue from the media rights in the first five years and 60 per cent from sixth to 10th year.
The increased revenue from the media rights should mitigate the assumed fall in revenue for the IPL in the second year because the event was being moved overseas.
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