The Indian TV and internet rights for both men’s and women’s international competitions have been retained by Disney Star for a four-year term from 2024 to 2027, according to a statement from the International Cricket Council (ICC) on Saturday, August 27.
The international cricketing body claimed that Disney Star obtained the rights following a single round of bidding that resulted in a considerable increase to the rights fee from the last cycle, without providing the bid amount.
But according to reports, Disney Star would shell out almost $3 Billion for the rights, according to news agency PTI.
Disney Star staved off a strong competition’ from rivals who were also vying for the rights, according to Cricbuzz, including Viacom18, Sony Sports, and Zee Network.
The story went on to say that a second bid that was within 10% of the amount cited by Disney Star would have forced a second round of bidding. Nevertheless, given that the selection process was concluded in a single round, Disney Star proposed a substantially higher price than the runner-up.
The bids were launched on Friday and the ICC board approved them on Saturday in a process that started in June of this year. The winning offer is anticipated to exceed the $1.44 Bn standard set over four years by the ICC, according to ESPN Cricinfo.
“We are delighted to continue to partner with Disney Star as the home of ICC cricket for the next four years which has delivered an outstanding result for our members and will support our ambitious growth plans…This was an incredibly competitive process, which isn’t surprising given the huge audiences that cricket consistently attracts with more than a billion fans that passionately follow the game globally,” ICC Chair Greg Barclay said.
It is important to remember that Star previously acquired the rights and had spent about $2.1 billion, albeit for an eight-year term.