Indian cricket fans will be happy to learn that the IPL 2023 price has surpassed 91,000 crores before the eagerly awaited Indian Premier League (IPL) 2023 auction.
On December 23, the IPL 2023 auction will be held in Kochi, but before then, the brand will reach new heights as the IPL ecosystem is now valued at $11 billion ($10.9 BN), according to a report released by D & P Advisory firm.
IPL 2023 Valuation Increased
IPL has now crossed the $10 billion value threshold, making it a “decacorn,” which is a term for a company under such circumstances.
In 2020, the IPL was estimated to be worth roughly $ 6.2 billion, but since then, according to a report titled “Beyond 22 Yards,” the value of the league and the participating club has increased by a factor of two.
One of the key reasons for the IPL’s significant worth increase is its new media rights agreement for the cycle 2023 to 2027. The league will earn 100% more money from the previous cycle compared to that cycle.
- IPL is the most interested and loveable game in India.
- In that way IPL 2023 value was increased to Rs.91,000 crores.
- This amount was 75% more than the year 2020 IPL value.
Viacome18 secured the internet rights to the IPL for 23,758 crores, while Disney Star secured the television broadcast rights for an eye-popping 23,575 crores. The broadcast rights were secured for the first time by two different organizations.
In addition, the addition of the Gujarat Titans and Lucknow Super Giants, two new IPL teams, for a combined $1. 6 billion has increased the worth.
The two new IPL franchises are worth at least six to seven times as much as the previous franchises that BCCI sold. Other reasons include the increase from 74 to 94 matches in a single season in the following cycle.
