Heard that the top bid was closed to $3 billion and it's just for 4 years.
ICC must be feeling lovey dovey after the final numbers and I'm sure the ICC office will get some early fat checks too as a bonus.
ICC must be feeling lovey dovey after the final numbers and I'm sure the ICC office will get some early fat checks too as a bonus.
Their reserve price was $1.44 billion for 4-year cycle (2024-27) and $4 billion for the 8-year cycle (2024-31). ICC went with the 4-year deal, since it was more lucrative for them. Exact amount being paid by Disney-Star is not known, but the ICC guys were saying that it is close to $3 billion. So much more than what they were initially expecting. And more importantly, this is just for the Indian market. Media rights auction for US-UK markets will happen next, followed by rest of Asia. Just hope that some of that amount will trickle down to the associate boards.
Now picture is more clear and it looks like ICC has achieved its target by organizing a close bid. Just look at the difference between winning bid and 2nd best bid. The difference is close to $2 Billion.
Disney is rich but they won't be much happy after seeing the massive difference and time will tell if they overpaid or not.
