Amazon is moving away from the race of 60 thousand crore rupees in IPL

 The news was announced last February. Amazon, the world-renowned e-commerce company, will be in the running to buy the IPL streaming rights. According to the media 'Bloomberg', the company is probably going to take U-turn from IPL. Amazon is considering withdrawing from the broadcasting rights contest.

IPL is the most popular franchise cricket league in the world. The brand value of the tournament is around 600 million. IPL draws around 60 crore viewers on TV alone. After Amazon expressed interest, everyone assumed that the company would compete with Walt Disney, Mukesh Ambani's Reliance Group and Sony for broadcasting rights.

But according to a source close to Bloomberg, Amazon has already invested ৬ 600 billion in India. The company does not think it is wise to invest more money just to buy the streaming rights of online IPL streaming.

In 2016, Star Group bought the broadcasting rights of IPL for five years. This time, after the end of that cycle, the auction for sale of new broadcasting rights of IPL (2023-26) will be held on Sunday next Sunday. According to Bloomberg, this time the cost of the broadcasting rights could rise to an estimated 800 million (about Rs 59,939 crore in Indian currency). The media tried to speak to Amazon's correspondent but received no comment.

Analysts believe that if Amazon withdraws, the field will be empty for Reliance, Disney and Sony. In the end, it is believed that the broadcasting rights will control the online cricket market in Pakistan and India. This time, the Board of Control for Cricket in India (BCCI) will earn almost three times as much as last time by selling broadcasting rights, according to media reports.

In the last phase, Star India got broadcasting rights for Rs 16,347 crore. Before Star India, Sony Picture Network got the broadcasting rights for Rs 6,200 crore.

Earlier, Bloomberg reported Amazon's interest in the IPL.

The US-based company has poured millions of dollars into broadcasting rights to European football. Amazon has acquired the rights to broadcast 'Thursday Night Football' until 2033 in a  1 billion deal in the United States. They became interested after seeing the popularity of IPL. According to the BCCI, the IPL is second only to the English Premier League in England and the National Football League (NFL) in the United States in popularity.

In 2020, financial consultancy firm Kroll (formerly Duff & Phillips) stated that the brand value of the IPL is around ৯ 5.9 billion. According to D&P, a financial consultancy firm in India, the price has risen by at least 25 per cent this year. The BCCI, however, estimates that the brand value in the IPL is around  600 million.