Mukesh Ambani and Jeff Bezos to engage in bidding war for Indian T20 League? Here's all you need to know

The media rights for the Indian T20 League are up for grabs, and giants from across the globe are all set to take part in the bidding war. As per reports, Mukesh Ambani and Jeff Bezos' companies are all set to participate in the auction to be held on the 12th of June.

Two of the world's wealthiest men will compete for a potential $7.7 billion deal. With over 600 million views, the Indian T20 League is the world's fastest-growing sporting tournament. Both Ambani's Reliance Industries Ltd. and Bezos' Amazon.com Inc. believe the game will act as a head start, to their ultimate goal, dominating an increasingly online Indian consumer market.

Several more bidders are expected to participate in the auction for the five-year telecasting and online streaming of the big event throughout the world. According to sources, the two firms are preparing an aggressive game plan for the tournament in order to win. Other prospective competitors include Walt Disney Companies, the present media rights owners, and Sony Group Corp.

"The bidding action will be a bet on the India story over the coming decade. Bidders are putting money on the promise that data-consuming Indians will dictate the fortunes of every business, from retail to banking, and from travel to education," said Karan Taurani, a media analyst at Mumbai-based Elara Capital.

Mukesh Ambani, India's business tycoon, has spent a long time planning the event. Since 2021, the owner of Reliance Industries Ltd. has been acquiring the services of specialists. This includes Anil Jayraj and Gulshan Verma, who assisted 21st Fox Inc. in closing the last deal in 2017. Uday Shankar, former head of Fox's and then Disney's India and Asia Pacific divisions, has also recently joined the group.

On the other hand, Amazon has recognised the Indian T20 League as one of the most promising markets. As a result, rather than taking a careful approach, they are preparing for an aggressive bidding competition. They recently spent millions on European soccer rights. They have also struck a contract to show Thursday night football in the United States for $1 billion every season until 2033.