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Star India has won the global broadcasting and digital rights for the next five seasons of the Indian Premier League (2018-22) with a bid of INR 16,347 crore.

Star India's IPL Gamble: Rs 16,347 Crore For 5 years!

Asked if any major Indian company with interest in broadcast gets into a tie-up with an worldwide player vying for digital rights for the rest of the world, Johri said that the possibility can not be ruled out.

Star offered a consolidated bid - the only bidder to do so - for both broadcast and digital rights, whereas rival Sony offered $1.75 billion only for broadcast rights.

Star's bid of INR 16,347.5 crore (US $2.55 billion) was the only global bid made on Monday in Mumbai and was almost INR 528 crore (US $82.45 million) more than the combined value of the highest bids in each individual category.

There was a sense of anticipation when the Board of Control for Cricket in India (BCCI) released the Invitation to Tender for companies to apply to bid for the TV Broadcast and Digital Rights of the Indian Premier League (IPL).

More than 24 companies competed for those rights - including Sony Pictures Network, OSM (Gulf DTH), African SuperSport, Econet, Yupp TV for the television rights; and Airtel, Reliance Jio, Times internet and Facebook for the digital rights.

Hotstar, the OTT arm of Star India, will get a lift.

"Till a few years ago, India was characteristically dismissed as a country that was not broadband-ready", Shankar said.

Speaking to Gulf News, Dubai-based media entrepreneur Ajay Sethi, owner of the Nelson Mandela Bay team that will play in the new T20 Global league in South Africa this year, said: "The huge financial windfall for BCCI is not surprising, it was expected to be high".

After bagging the most lucrative bid in with the world of cricket, Star India is now looking towards Indian cricket and if reports are to be believed they will go all out to net Indian cricket after their current deal is set to expire in 2018. Indian consumers have surprised everybody in the world, as the aggressive bid for the digital rights would suggest. That cycle came to an end in 2017, thus facilitating the bidding process.

"If it (our figures) were slightly less, we would not have got the rights". "The IPL is a very powerful property", he said. "In every category, it was so competitive", said Uday Shankar, chairman of STAR India. The first three matches alone of this year's season drew 185.7 million viewers, roughly 15 percent more than last year. The global digital rights of IPL for a period of three years was awarded to Novi Digital in 2015 for Rs 302.2 crore.