Ambani looks on in IPL; The goal is to make millions by cash, how? – IPL | Mukesh Ambani

It is full of fat Indian Premier League. The IPL spends crores of rupees every season on players’ salaries and advertising revenue. All the Indian billionaires, Bollywood stars and big companies are throwing money in the IPL without any hesitation. Disney Star (Star Sports) and Reliance-owned Viacom 18 (VoteApp) acquired the television rights for the next five years in the IPL for a record amount yesterday. For the first time in the history of the IPL, the BCCI got Rs 48,390 crore from the auction of digital broadcasting value that surpassed the value of television. While Disney Star acquired the television rights for Rs 23,575 crore, Mukesh Ambani-owned Reliance Digital acquired the rights for Rs 23,758 crore. In addition, Viacom 18 acquired broadcasting rights in Australia, South Africa and the UK. Time Internet owns broadcasting rights in the US, Middle East and North Africa. According to estimates, Mukesh Ambani, India’s richest man who has owned the digital rights for five years, will lose at least the first three years. The Disney star, who owns the television rights, will also have to invest money in marketing and advertising and incur some other hosting charges. In short, throwing cash in the IPL does not make these companies financially profitable. Yet why are so many, including India’s biggest billionaire, eyeing this league?