Argus advises on $6.2 bln India cricket broadcast deal

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Argus Partners has advised the Board of Control for Cricket in India (BCCI) in the media rights auction to broadcast the Indian Premier League, the world's richest cricket competition, for the next five years. The deal fetched the BCCI $6.2 billion.

Disney-owned Star India retained the television broadcast rights to the IPL for 235.75 billion rupees ($3.02 billion), while Viacom18, a broadcasting joint venture run by Mukesh Ambani's Reliance Industries won digital streaming rights from 2023 to 2027, for 237.58 billion rupees, Reuters reported.

It added that the IPL, counting top Indian industrialists and Bollywood stars such as Shah Rukh Khan among its franchise owners, is often seen as a surefire ticket to high TV ratings and growth in India's booming online streaming space.

The Argus team was led by managing partner Krishnava Dutt and partner Adity Chaudhury.

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