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Walt Disney-controlled Star and Viacom18 received packages A and B, respectively, within the simply concluded spherical of rights auctions that valued the cricket league because the world’s second richest sporting occasion.
Disney will spend ₹23,575 crore and Viacom18 ₹20,500 crore to telecast the video games on the TV and digital media, respectively, in India till 2027.
To make certain, Viacom18 has received bids in different classes as properly, and its complete scheduled funds are in extra of ₹23,750 crore.
“Each firms must submit financial institution ensures (BGs) to fulfil their obligations towards the cricket board and are in superior talks with greater than half a dozen lenders to finish their respective offers,” mentioned an individual conscious of the negotiations.
Disney-Star and Viacom18 are collectively arranging for about ₹9,600 crore non-fund primarily based ensures that may be encashed by the BCCI if there are any points with regard to funds throughout the course of the subsequent 5 years.
Disney-Star is in talks with at the least 4 banks – BNP Paribas, Deutsche Financial institution, HSBC and Customary Chartered Financial institution – for ensures that can be renewed yearly, individuals conscious of the negotiations advised ET. This can cowl about 80% of the sum required to be paid for the primary 12 months of protection, estimated at ₹4,715 crore.
“For the remaining 20%, the corporate could faucet US-based lenders – just like the Financial institution of America or JP Morgan,” mentioned a second particular person conscious of the negotiations.
Viacom18, in the meantime, is within the strategy of finalising a take care of SBI, ICICI Financial institution and
. “These talks are near conclusion,” mentioned a 3rd particular person conscious of the method.
Viacom18 and choose banks didn’t reply to ET’s mailed queries. Disney-Star, BNP, Deutsche, HSBC and Customary Chartered declined to remark.
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