Women‍‍`s IPL media rights sold for $116.7 million

India‍‍`s cricket board said Monday it sold the media rights for the Women‍‍`s Indian Premier League for $116.7 million to Viacom18 for the next five seasons.

The rights for the men‍‍`s IPL sold for $6.2 billion for five seasons last year. Media giant Viacom18 bought the streaming rights.

The money-spinning Twenty20 tournament is set to add a women‍‍`s event to the men‍‍`s edition this year for the first time.

The Women‍‍`s IPL takes place in March.

Viacom18, a joint venture between tycoon Mukesh Ambani‍‍`s Network 18 media conglomerate and US group Paramount Global, won the rights for the 2023-27 cycle of the women‍‍`s edition.

Jay Shah, secretary of the Board of Control for Cricket in India (BCCI), hailed the deal.

"This is massive for women‍‍`s cricket," he wrote on Twitter.

He added: "It‍‍`s a big and decisive step for empowerment of women‍‍`s cricket in India, which will ensure participation of women from all ages. A new dawn indeed!"

The cash-rich men‍‍`s IPL -- which expanded to 10 men‍‍`s teams to include Lucknow Super Giants and Gujarat Titans and 74 matches last year -- is a huge revenue earner for the BCCI.

Viacom18 last June bought the streaming rights for the next five seasons of the men‍‍`s IPL for $3.04 billion. 

Star, owned by US behemoth Disney, bought the TV rights for $3.01 billion.