India Cricket Broadcast Rights Bids Touch $6 Billion on Auction Day 1

The auction of broadcast rights for India’s coveted cricket league saw the heated competition on the first day as bids went past 450 billion rupees ($5.8 billion), according to people familiar with the proceedings.

The sum offered by the end of Sunday for the Indian Premier League’s rights already exceeded the floor price of 328 billion rupees set by India’s cricket board and is nearly three times what the sport’s local governing body got in the last auction in 2017. Bidding will resume on Monday.

Global media giants are battling for a five-year contract for one of the world’s most popular events.

The India Premier League is one of the world’s most popular cricketing events, and broadcast rights are highly sought after. The competition for these rights is intense, and the prices reflect that.

The auction began on Sunday and lasted for hours, with bids coming in from all over the world. The final bid price is not yet known, but it is sure to be high. The last auction in 2017 saw bids of just over 100 billion rupees, so this year’s auction is already setting new records.

The bidding will continue on Monday, and it is sure to be a tense affair. Whoever wins the contract will have the right to broadcast one of the world’s most popular sporting events to a global audience.

Some of the biggest names in the media industry are involved in the bidding, and they are all vying for a piece of the action.

The India Premier League is a hugely popular event, and the broadcast rights are extremely valuable. The competition for these rights is intense, and the prices reflect that.

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