The media rights to the IPL were sold for a record-breaking $5.6 billion.

The Indian Premier League, the world’s richest cricket competition, has sold streaming and TV rights for a record $5.6 billion (£4.6 billion).

According to AFP, Viacom18, which is backed by Indian billionaire Mukesh Ambani, has secured streaming for $2.6 billion.

According to local media, Disney-owned Star India purchased TV rights for approximately $3 billion.

The sum of the two deals is more than double the $2.4 billion paid by Star for the previous five seasons of the IPL. Two rights packages are still up for grabs.

The winning bid for the TV rights for the next five seasons – a period that includes 410 IPL matches – was around $7.36 million (£6.1 million) per game.

The annual two-month competition’s digital streaming rights were sold for $6.4 million (£5.3 million).

In terms of cost-per-match, the figures place the IPL alongside the NFL in the United States and the English Premier League.

The BCCI’s media rights auction for the IPL broadcast rights from 2023 to 2027 has media behemoths Viacom18, Mr Ambani’s joint broadcasting venture, Disney, and Sony India vying for a piece of the IPL pie.

The auction, which began on Sunday morning, is now in its third day, with two more rights packages up for grabs: international broadcast of the IPL and non-exclusive rights to certain matches.

Overall, the BCCI is expected to profit handsomely from the sale, which is expected to be worth more than $6 billion.

The IPL is one of the world’s most watched sporting events.