Board of Control for Cricket in India (BCCI) secretary Jay Shah said on Sunday that the media rights value of the Indian Premier League, especially after the addition of two new teams will be a testament to the unprecedented growth of the T20 league.

The BCCI is all set to float tenders for the 10-team IPL rights for the 2023-2027 cycle as early as the coming week and complete the e-auction in two months, Shah added.

“The aspirational value of Brand IPL has surpassed anyone and everyone’s expectations,” Shah said, as quoted by Reuters.

He declined to discuss any dollar figures, but said: “The valuation will mirror the rise and growth of the league.”

IPL 2022, which is expected to get underway from March last week will have two new teams in Lucknow Super Giants, owned by the RP Sanjiv Goenka Group, while Ahmedabad Titans are owned by CVC Capital.

Industry sources expect it will fetch as much as Rs 500 billion ($6.7 billion), according to the news agency.

Shah added that the board had studied various models and proposals, amid expectations that separate TV and digital bids would be considered.

That would mean a bid from Inc AMZN.O, with only a digital platform, might be accepted this time after the BCCI in 2017 selected a consolidated TV and digital bid.

Star India, owned by Walt Disney Co DIS.N, paid 163.48 billion rupees for the 2018-22 cycle.

“Two new teams mean more opportunities to the entire cricketing ecosystem. You can gauge the level of interest with the valuation for two new teams,” Shah said.

“In just 14 seasons, we have recorded unprecedented figures that other popular leagues reached after decades,” Shah said. “Not just television but look at the numbers on digital.”

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