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STAR India elbows out Sony in Rs 16,347.50 crore deal for IPL broadcast rights till 2022

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STAR India elbows out Sony in Rs 16,347.50 crore deal for IPL broadcast rights till 2022

[vc_row][vc_column][vc_column_text]The company already has broadcast rights of all ICC events and Asia Cups until 2033 and 2023 respectively

Establishing its practical monopoly on airing all major cricket tournaments in India and select global markets, STAR India elbowed out Sony pictures, on Monday, to win the media rights for television and digital broadcast of the Indian Premier League (IPL) till 2022 with its staggering consolidated bid of Rs.16,347.50 crore.

With media rights for the IPL broadcast now in its pocket, STAR India will be the platform for broadcast of all major cricketing events as it already has global media rights for all ICC events and the Asia Cup till 2033 and 2023 respectively. The cash-rich IPL was the lone major cricketing event not to be aired by STAR India until now. The STAR India broadcast deal will come into effect in 2018 when the previous 10-year-bid won by Sony in 2008 for Rs 8200 crore ends its course.

The TV and digital broadcast rights won by STAR India are for various segments – India, Middle East, Africa, Europe and America. It is expected that STAR India’s digital vertical HotStar would be used for live streaming of IPL matches in India.

The bidding of various media rights of the lucrative T20 cricketing event was held in Mumbai. The final figures of the bid were released on IPL’s official twitter handle.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Soon after being declared the winner STAR India chairman Uday Shankar said: “We believe the IPL is a very powerful property, and we believe there is lots more value that can be created for fans of cricket on digital and TV… We would remain committed to ensure that the growth of sports in this country continues to be driven by the power of cricket.”

A total of 24 companies, including Sony, STAR India, Airtel, Amazon, Times Internet, Facebook and Twitter, had picked up the Invitation to Tender (ITT) to bid for the media rights in the Indian subcontinent and global markets for the next five years. However, 10 of the 24 companies did not turn up for the bidding process. The ones to back out included the likes of Amazon, Twitter and Yahoo.

BCCI had shortlisted STAR India and Sony for broadcasting rights while Reliance Jio, Airtel, Times Internet and Facebook were to bid for digital rights. However, it was later declared that STAR had won both television and digital broadcast rights through a single consolidated bid of Rs 16,347.50 crore.

Interestingly, Sony’s individual bid for broadcast (TV rights) was pegged at Rs 11,050 crore, substantially higher that STAR’s quote of Rs 6,196 crore. However, bidding rules allowed for companies to form a consortium and if its consolidated global bid happened to be greater than the sum total parts of every individual bid then the consortium stood to emerge as the winner – something that happened in the case of STAR India.

With STAR India now gaining TV and digital broadcast rights of all major cricketing events, it is now certain that its competitors in the media industry would raise the monopoly bogey to attack the network. Only a week ago, DTH operator Dish TV had written a letter to the Union government seeking its intervention to stall the participation of STAR India in the IPL bidding process. In the letter, Dish TV CMD had said that an “absolute monopoly” would be created if STAR India were to win.

“The acquisition of the IPL telecast rights by STAR would lead to a situation where there will be an absolute monopoly thereby leading to dominance by STAR in the field of cricketing telecast rights…,” Dish TV had argued, adding that if such a situation were to emerge then STAR would compel TV channel distributers and ultimately the consumers to shell more money from their pockets.[/vc_column_text][/vc_column][/vc_row]

LATEST SPORTS NEWS

Rafael Nadal announces retirement from tennis

“It is obviously a difficult decision, one that has taken me some time to make. But in this life everything has a beginning and an end,” Nadal said in the video in Spanish.

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Rafael Nadal, a 22-time Grand Slam champion and widely regarded as one of the most exceptional players in the history of tennis, has announced his retirement from professional tennis.

Nadal’s forthcoming participation in the Davis Cup final 8 for Spain in November will mark his final appearance as a professional tennis player. His illustrious career includes 22 Grand Slam titles, with an unprecedented 14 victories at the French Open, solidifying his status as one of the most accomplished sportspersons of all time.

The champion, in an emotional video posted on X on Thursday, said, “I am here to let you know I am retiring from professional tennis. The reality is that it has been some difficult years, these last two especially.”   

“It is obviously a difficult decision, one that has taken me some time to make. But in this life everything has a beginning and an end,” Nadal said in the video in Spanish.

The 38-year-old mentioned that he has been dealing with numerous injuries over the past few years, leading to significant time away from the sport. This year, the left-handed player has only participated in seven tournaments, experiencing an early exit in the first round of the French Open – an event he has historically won 14 times.

His most recent performance was at the Paris Olympics, where he was defeated by Novak Djokovic in straight sets during the second round.

Nadal boasts an impressive total of 92 ATP singles titles, which includes 36 Masters titles and an Olympic gold medal. Notably, he is one of three men in tennis history to achieve the Career Golden Slam in singles. The announcement of his retirement came through an emotional video shared on social media.

In the lead-up to his retirement, Nadal withdrew from the 2024 Laver Cup, which was intended to be his final professional event on the court. Following the Paris 2024 Olympics, Nadal confirmed that the Laver Cup would be his next appearance for the year. This would have marked his fourth participation in the Laver Cup, after competing in Prague in 2017, Geneva in 2019, and partnering with long-time rival Roger Federer in doubles for the latter’s final match at The O2 in London in 2022.

The 22-time Grand Slam Champion had previously hinted that 2024 might be his last year on the tour. With a season match record of 12-7, his latest competitive outing was at the Paris Olympics, where he was eliminated in the second round by Novak Djokovic.

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India News

Vinesh Phogat returns to India after Paris Olympics heartbreak, says fight not over yet

The Indian wrestler was disqualified from the 50kg final in the Paris Olympics due to exceeding the weight limit by 100 grams.

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Wrestler Vinesh Phogat who arrived in the national capital to a rousing reception at the Delhi Airport on Saturday thanked the people of the country for their support during Paris Olympics and said the fight is not over yet.

She was received by her fellow athletes Bajrang Punia, and Sakshi Malik as well as Congress leader Deepender Hooda, and Panchayat leaders. The Indian wrestler was disqualified from the 50kg final in the Paris Olympics due to exceeding the weight limit by 100 grams.

During the roadshow after her arrival, the 29-year-old said she was grateful for the love and respect that she received from her country.

Addressing a gathering, Phogat said: “Although they didn’t give me the Gold medal, people here have given me that. The love and the respect that I have received is more than 1,000 Gold medals.”

The fellow wrestler Punia said that the love and respect she has received now is more than what she could’ve received after winning a Gold medal. He thanked the people of the entire nation for their support.

Premlata, mother of wrestler Vinesh Phogat said that everyone from her village and nearby areas have come here to welcome her. “We will felicitate her. She is a champion for me. The country has given her more honour than a gold medal”, she said.

Sharing pictures with the fighter on X, the Congress MP Hooda said: “Today, our sister Vinesh Phogat, the daughter of the country, who returned home like a brave warrior, was given a rousing welcome at the Delhi airport. In our eyes, you have been a winner in the past and will remain so in the future too. Your courage, struggle, and determination have not only won the hearts of crores of countrymen but you are an inspiration to crores of youth of the country.”

The Congress MP Shashi Tharoor also took to X and wrote in Hindi, “Everything is stacked ahead of it, this girl is a lion; Welcome Home Phogat.”

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India News

CAS verdict on Vinesh Phogat: CAS says verdict before August 11, the day the Olympics ends

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The Court of Arbitration For Sport (CAS) accepted Indian wrestler Vinesh Phogat’s plea for a joint silver medal in the women’s 50kg wrestling at the Paris Olympics.

Hearing on her appeal started around 9:30 am Paris time, or 1 pm IST on August 9, though an interim verdict was expected, the CAS put out a statement that the order will come before the Olympics end on August 11.

The development has come as a big shot in the arm for both Vinesh Phogat and the Indian Olympic Association. The CAS, in its prima facie views on Thursday, found merit in Vinesh’s plea for a joint silver medal after she was disqualified from the final for being 100 grams overweight.

Vinesh was disqualified just hours before her gold-medal bout against Sarah Ann Hildebrandt of the USA. Although she had guaranteed at least a silver medal by making it to the final, she lost the podium finish following a failed weigh-in. Attempts to shed some kg came to naught as she was disqualified anyway. The ruling of the United World Wrestling – that a wrestler must be within the weight category on each day of competition – saw Vinesh lose the chance at winning a medal.

Though Vinesh’s opponent in the semi-finals, Cuba’s Yusneylis Guzman Lopez, made it to the final, the script ended there as she was beaten by America’s Sarah Ann Hildebrandt who became the fourth woman from her country to win a gold medal in wrestling.

Following her disqualification, Vinesh and the IOA filed two appeals with CAS. While the first one seeking permission for Vinesh to participate in the final was dismissed, the second appeal seeking a joint silver medal was allowed. Vinesh had won her first three bouts on August 6 but could not make her weight for the second-day weigh-in, which resulted in the disqualification.

The IOA has engaged Senior Advocate Harish Salve to argue its case before the CAS on behalf of Vinesh. The IOA argued that the 100 grams excess weight was insignificant and due to various factors such as bloating or recovery after intense competition and not for any gain.

This comes at a time when Vinesh has just declared her retirement from wrestling.

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