Argus Partners represented the Board of Control for Cricket in India when the BCCI secured a whopping INR483.9 billion (USD6.2 billion) from an auction of four media rights packages to the Tata Indian Premier League seasons 2023-2027.
Disney Star shelled out INR235.75 billion (USD 3.02 billion) to clinch the TV rights in package A, while the most sought-after India digital rights under package B was acquired for INR205 billion (USD2.62 billion) by Viacom18, which also won the non-exclusive package C by paying another INR32.57 billion (USD417.2 million). Viacom and Times Internet paid INR10.57 billion (USD133.32 million) to secure package D of overseas rights for various regions.
The world’s richest cricket board, the BCCI, received legal assistance during the tender process under the guidance of Argus Managing Partner Krishnava Dutt. The team also had partner Adity Chaudhury, senior associate Kshitija Naik, and associates Tushar Oberoy, Jinansh Shah, Nipuna Varman, Megha Saha, Amaan Rahman and Srijoy Deb working on the deal.
“Advising on one of the world’s biggest media rights auctions was indeed an enriching and exhilarating experience for the entire Argus team. It was extremely challenging and there was a lot of learning involved. It was also a pleasure witnessing the exemplary professionalism in BCCI`s approach and the transparency in their processes during the entire transaction period,” Dutt told India Business Law Journal.
Partners Zia Mody and Roxanne Anderson at AZB & Partners assisted Disney Star in the deal.
Viacom18 had Anagram Partners as its advisers and were led by partners Shuva Mandal and Ankit Mishra, senior associate Keegan Pavrey and associate Vidhisha Ambade.
The deal for package A and B comprises 410 matches across five years with 74 matches each in 2023 and 2024 as well as 84 each in 2025 and 2026. The 2027 edition will have 94 games.