Ahmedabad. 10 June 2022, Friday
Mukesh Ambani, who is fighting a bitter legal battle in India and outside India to buy India's largest retail chain brand Big Bazaar, was in the midst of fierce competition for one more deal between Reliance Retail and Jeff Bezos' Amazon, but according to recent reports, The fight seems to have died childish.
The media rights for the next five years of the world's largest T-20 cricket tournament are to be auctioned off this Sunday. Top holders, including Sony, Amazon and Reliance, were likely to compete with current holder Disney to buy the media rights. However, according to reports, Amazon is planning to withdraw from the competition for streaming rights for Indian Premier League cricket matches. Following Amazon's exit, the deal is now likely to go directly from Disney to Mukesh Ambani's Reliance.
IPL rights are expected to receive an unprecedented 7.7 billion bid in the auction on June 12 this year. The US e-commerce and streaming company Amazon, under the tutelage of Jeff Bezon, will take an exit before the start, sources said. While Amazon has already invested more than 6 6 billion in India, officials believe there is no business plan to spend more on the league's online streaming rights.
Bloomberg News reports that Amazon has identified the IPL in more than half a dozen global sports franchises as part of its future business plan. Initially, Amazon was the biggest contender in the race, and Reliance was the only one to breathe a sigh of relief, but even before its bid, Exit's decision has raised eyebrows among marketers. Amazon recently won European Soccer's media rights with a bid of millions of dollars and has struck a લર 1 billion per season deal to broadcast football on Thursday nights in the US until 2033.
However, Amazon may have considered the fact that the IPL is only a weekend tournament as the IPL usually takes place in April and May every year. Around 50 crore spectators watch this approximately 3 hour game between ten teams online.
Even after Amazon's possible exit, Ambani's Reliance could face competition from Disney and Sony Group Corp.
The value of the IPL for the year 2020 was estimated at about 9 5.9 billion. Duff & Phelps, now known as Crawl, reported the valuation. However, now that the valuation team and matches have increased, it has increased by about 25%. The BCCI estimates that the IPL is valued at over 7 7 billion.
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