Cricket rights net $1 billion

Sony, World Sports Group pact for India rights

By PATRICK FRATER

Sony Entertainment Television has partnered with Singapore-based World Sports Group to pay more than $1 billion for cricket rights in India. Deal is the biggest in the history of cricket.

SET and WSG agreed Monday to pay $918 million for 10-year broadcast rights, with a further $100 million committed for promotion of the Indian Premier League.

The IPL is a new creation of the Indian Cricket Board (BCCI), making use of the Twenty20 form of cricket, a fast-moving and exciting take on the game that is extending its popularity beyond the traditional fanbase.

BCCI had whittled bidders down to a final four, each of which had to pay a nonrefundable deposit of $100,000. Finalists are understood to have been ESPN-Star Sports, Indian broadcaster NDTV, SET and WSG.

"At Sony Max and WSG, we have done some pioneering work in showcasing cricket in an entertaining and informative way, and we will continue to innovate and extend the excitement of cricket through the IPL," said SET chief exec Kunal Dasgupta.

A sports rights management group founded in 1993, WSG has offices in Beijing, Beirut, Hong Kong, Sydney and Tokyo, home of advertising and media giant Dentsu, which has a substantial stake in the company. With large operations in golf and soccer, WSG opened an office in Mumbai in 2006 in order to expand its presence in cricket.

An unofficial Twenty20 league was launched last year and captured the imagination of the cricket-mad subcontinent. The BCCI has hit back with a series that sees the winning team pocket $3 million and qualify for an international series to be played in the fall.

The new BCCI format sees eight teams play league matches on a home and away basis, ending with two semifinals and a final. The whole package is set to start April 18 and run for 44 days.

In a game normally dominated by countries, states or counties, the IPL plays out more like a commercial league. Large corporations can bid to own a regional state team. Bids for the eight team franchises will be declared on Jan. 24; minimum bid is reportedly $50 million.

Adding to the ingenuity of the package, top international players from different countries will participate. National team captains Ricky Ponting of Australia, Graeme Smith of South Africa, Daniel Vettori of New Zealand and Shoaib Malik of Pakistan are among the 80 cricketers contracted for the IPL. The entire Indian team, which won the inaugural Twenty20 World Championship in South Africa in September, also will play. Player auctions will take place around Feb. 7.

In its previous big move into cricket broadcasting, Sony signed a five-year deal with the Intl. Cricket Council in 2002 for about $200 million.