Mukesh Ambani's firm wins $116 million media rights to Women's IPL
Joint venture between Viacom18 and Paramount Global wins the rights for the 2023-27 cycle
New Delhi: India's cricket board said Monday it sold the media rights for the Women's Indian Premier League for $116.7 million to Viacom18 for the next five seasons.
The rights for the men's IPL sold for $6.2 billion for five seasons last year. Media giant Viacom18 bought the streaming rights.
The money-spinning Twenty20 tournament is set to add a women's event to the men's edition this year for the first time.
The Women's IPL takes place in March.
Viacom18, a joint venture between tycoon Mukesh Ambani's Network 18 media conglomerate and US group Paramount Global, won the rights for the 2023-27 cycle of the women's edition.
Jay Shah, secretary of the Board of Control for Cricket in India (BCCI), hailed the deal.
"This is massive for women's cricket," he wrote on Twitter.
He added: "It's a big and decisive step for empowerment of women's cricket in India, which will ensure participation of women from all ages. A new dawn indeed!"
The cash-rich men's IPL - which expanded to 10 men's teams to include Lucknow Super Giants and Gujarat Titans and 74 matches last year - is a huge revenue earner for the BCCI.
Viacom18 last June bought the streaming rights for the next five seasons of the men's IPL for $3.04 billion.
Star, owned by US behemoth Disney, bought the TV rights for $3.01 billion.