VIVO IPL 2022: Mumbai Indians, Reliance Jio to enter IPL 2022 Broadcasting Rights race.
VIVO IPL 2021: The second leg of the Indian Premier League (IPL) 2021 is just around the corner with almost one month left for the games to begin in the UAE. The fans and supporters are already given constant candies of joy as their favourite teams are actively promoting the campaigns all over social media. To elate the IPL fans a little more, Reliance Jio, a big Indian corporate giant, is all set to enter the IPL broadcasting race for the very first time in the IPL 2022.
The broadcasting rights of the Indian Premier League (IPL) were purchased by Star India for five years in 2017 for a whopping $2.55 billion. Star’s five years contract with BCCI will expire after the completion of the IPL 2021 and the Indian cricket board will roll out tenders for the fresh broadcasting rights ahead of the Vivo IPL 2022.
For the new cycle of the broadcasting rights of IPL, various big companies will throw their hats in the ring and bid a hefty price value for it. The reports suggest that Reliance Jio & Network 18 promoted sports network is planning to put its hat into the ring along with the usual players like Disney Star, Sony Pictures Network and Amazon India.
If Reliance Jio enters the broadcasting market, this will enforce a big change in the Indian Premier League’s brand value across the globe. We have already seen a steady growth of the IPL over years as the league hosts premier cricketers of all cricket playing countries.
It is worth noting that Reliance owns the IPL franchise Mumbai Indians (MI), which has been the most successful IPL franchise with five titles. Mumbai Indians (MI) has made a huge jump in its total value after winning back to back IPL trophies under Rohit Sharma.
The total valuation of the franchise is around 761 crores after a massive downfall hit of 5.9 per cent during the covid pandemic.