Disney left the Indian Premier League’s media rights auction with the tournament’s TV rights for $3 billion, but its streaming service could still lose an estimated 20 million subscribers.

Viacom18, a joint venture between Mukesh Ambani’s Reliance Industries, Paramount Global, and investment company Bodhi Tree Systems, snatched the streaming rights from Disney for $2.6 billion.

• Disney’s Star India held all of IPL’s media rights from 2017 to 2022 as part of a $2.5 billion deal.
• This year marked the first time the Board of Control for Cricket in India sold the broadcast and streaming rights individually.

Since Disney won’t be streaming any IPL matches, Media Partners Asia estimates Disney+ could lose as many as 20 million subscribers — nearly 15% of the company’s current 138 million. 

Of that total, around 50 million of those customers come from cricket-filled Disney+ Hotstar, which is offered in India and other countries in South Asia.

Disney CEO Bob Chapek didn’t seem too concerned in February about the potential of losing the bid. Hotstar subscribers only pay about 76 cents each month, totaling less than $500 million in annualized revenue.

“It’s not like we see that business evaporating if we don’t get it,” he said.

Remaining Rights

Viacom18 also won a nonexclusive package covering 98 select matches for $417 million and rights for the U.K., Australia, and South Africa. Times Internet reportedly won rights in the U.S., Middle East, and North Africa.

The rights fetched $6.2 billion altogether.

Manchester City and Paris Saint-Germain have secured some of the world’s top soccer stars — and La Liga is claiming the numbers don’t add up.

The top Spanish soccer league filed a complaint with UEFA against Paris Saint-Germain this week after lodging a similar one against Manchester City in April, alleging both “are in continuous breach of the current Financial Fair Play rules.”

The rules introduce spending limits on teams based on revenue.

• PSG’s 2021-22 payroll was an eye-popping $448 million, per Capology, led by Kylian Mbappé ($94.4 million), Lionel Messi ($66.1 million), and Neymar ($58.6 million). 
• City’s was a more contained $179.9 million, but is likely to rise after the club brought in Erling Haaland from Borussia Dortmund on a $62.3 million transfer fee.

“La Liga understands that the irregular financing of these clubs is carried out either through direct injections of money or through sponsorship and other contracts that do not correspond to market conditions and do not make economic sense,” La Liga noted.

Middle East Money

Both clubs have attracted scrutiny for their ownership. PSG is owned by Qatar Sports Investments, a subsidiary of Qatar’s sovereign wealth fund. City is owned by United Arab Emirates prime minister Sheikh Mansour bin Zayed Al Nahyan through his Abu Dhabi United Group.

La Liga referred to them as “state clubs” in its announcement.

Both owners have access to vast sums of wealth but have been accused of sportswashing by human rights groups.

Entertainment experiences company Legends has acquired a minority stake in the American Ultimate Disc League as part of a long-term deal between the two entities. 

Terms of the deal weren’t disclosed. 

• Formed in 2012, the AUDL has 25 teams across the U.S. and Canada.
• Each team plays a 12-game regular-season schedule. 
• AUDL’s majority owner is tech development company UltiX Technology. 

As part of the pact, Legends — which began as a joint venture between Yankee Global Enterprises, an affiliate of the New York Yankees, and Dallas Cowboys owner Jerry Jones — will manage AUDL sponsorships, merchandise, acquisitions, and its media strategy.

Sixth Street purchased a 51% stake in Legends in 2021, valuing the company at $1.35 billion. 

Diverse Portfolio 

Legends has expanded its reach through acquisitions and deals with some of the world’s most popular sports teams and organizations.

In January, Legends acquired analytics-focused digital media agency 4Front for between $15 million to $20 million, sources told Front Office Sports. 

Two months later, Manchester United appointed Legends and architecture firm Populous to lead its consultants as the Premier League club plans renovations to Old Trafford expected to cost over $261 million.

In May, Real Madrid signed a $381 million deal with Legends and investment group Sixth Street to host concerts and other events at the La Liga club’s 81,000-seat Santiago Bernabéu Stadium.

Legends also has a minority stake in the Professional Fighters League, which it acquired last year.