IPL’s $5.6 Billion Valuation Makes BCCI Bosses Feeling Richie ‘$$$’ Rich!

One cannot grudge the BCCI functionaries if they feel like the fictional character Richie Rich, whose net worth was once valued at $25 billion. The fact is that the prime cricket property in the world with a famous acronym IPL — a Twenty20 tournament conducted by the BCCI — has been screaming about having crossed the $5.6 billion mark valuation; a far cry from the Richie Rich valuation and what the ideator of the tournament, Lalit Modi had predicted; between $8 to 10 billion for the 2023-27 period. But the BCCI top brass must be pleased as punch with Rs 47,000 crore valuation of the tournament that in 2008 was put in place by business tycoons from the textile, oil, beverages, real estate, cement, media, pharmaceutical, airport industry and celebrities from the tinsel town.  SONY Sports held the media rights for the first 10 years at Rs 8,200 crore plus and Star Sports held it for the last five season cycle for Rs 16,347 crore plus. And now the successful bidders for the 2023-27 cycle,  reported to be Star Sports for television and the Ambanis driven Viacom18 for digital, have to shell out Rs 4,750 crore and Rs 4,100 crore to the BCCI for each of the next five seasons. The BCCI’s Jay Shah and Brijesh Patel have every right to feel like Richie Rich!