An IPL match is currently valued at a record INR 105 crore (USD 13.44 million), making it the second-most profitable sports product in the world in terms of value per match, after only the NFL (USD 35.07 million*). Given that the e-auction for the T20 tournament’s media rights, which started on Sunday, is still ongoing, this sum might climb.

The total amount bid so far is INR 38,850 crore (USD 4.97 billion), consisting of INR 21,090 crore (USD 2.7 billion) for Package A (TV rights for the Indian subcontinent) and INR 17,760 crore (USD 2.27 billion) for Package B (digital rights for India subcontinent); this is already 2.38 times (138 per cent) more than the 2018-22 IPL rights deal, which Star India secured in 2017 for $2.55 billion. These figures assume 74 games each season in the following five-year rights cycle, which begins in 2023. As of now, the IPL has surpassed the Premier League, with a per-match worth of USD 11.34 million** for the 2022-25 rights.

The IPL placed its media rights up for sale for the first time via an e-auction, bypassing the closed bid procedure. Bids are submitted via an internet portal controlled by a third-party corporation in an e-auction. The top offers in all categories are shown on screen simultaneously and in real-time, but the identities of the bidders are not revealed to prevent competitors from inflating prices. The IPL established a minimum base price for each of the four categories for this auction, and bidders were requested to indicate their price per match. The basic fee per match for Package A is INR 49 crore (USD 6.3 million). It costs INR 33 crore (USD 4.2 million) for each match for Package B. It costs INR 16 crore (USD 2.05 million) each match for Package C. It costs INR 3 crore for Package D. (USD 390,000).

Packages A and B were put up for auction at the same time on Sunday, with all of the major bidders from the final list of seven vying for the top spot. Package A received the highest offer of INR 57 crore (USD 7.29 million), which was 16.3 per cent more than the IPL’s basic price. Package B received the highest offer of INR 48 crore (USD 6.14 million), which was 45.4 per cent more than the base price. The total amount – INR 105 crore – is already 93.6 percent greater than the last IPL rights deal’s pre-match pricing (INR 54.23 crore).

On Monday at 11 a.m. IST, the bidders – Disney-Star, Sony, Viacom-Reliance, Zee, Fun Asia, Super Sport, and Times Internet – will restart the auction. The winner of Package A has the right to compete for the digital rights with the highest bidder in Package B, according to IPL regulations. The auction will continue until one of them withdraws. The auction procedure for Packages C and D will begin after the highest bidder for Packages A and B has been selected.