Star India Pvt. Ltd gets certain media rights for IPL
The Board of Control for Cricket in India (BCCI) on Tuesday awarded certain media rights of the Indian Premier League (IPL) to Novi Digital Entertainment Pvt. Ltd.
Mumbai, February 10 (IANS) The Board of Control for Cricket in India (BCCI) on Tuesday awarded certain media rights of the Indian Premier League (IPL) to Novi Digital Entertainment Pvt. Ltd. for a period of three years. Novi Digital Entertainment, a wholly owned subsidiary of Star India Pvt. Ltd., got the rights for a cumulative fee of Rs.302.2 crores for 2015, 2016 and 2017.
The BCCI Marketing Committee received the bids on Tuesday for which a cumulative reserve price of Rs.120 crores over three seasons was set. The bidders were Times Internet Ltd., Multi Screen Media Pvt. Ltd. and Novi Digital Entertainment Pvt. Ltd.
"Our partnership with Novi Digital Entertainment Pvt. Ltd. augurs well for the IPL, as well as the millions of fans who follow the tournament and we are delighted to commence an association with the organisation whose bid was found to be the most deserving," Honorary Secretary, BCCI Sanjay Patel said.
Patel added that the "Strategic Time Out", which occurs twice in a team’s innings, will have a sponsor for the first in the tournament's history, from which the BCCI will earn Rs 31.5 crore over the next three seasons.
IPL 2015 is set to begin on April 8, just 10 days after the end of the ICC Cricket World Cup. The final will be held on May 24 at the Eden Gardens in Bangalore.