Key decisions, including a move to float the media rights tender for the next five years for the men's edition, were taken in the IPL governing council meeting on Friday in Mumbai.
Bids are expected to be invited separately for digital, TV, and rest of the world rights in a breakaway from the previous term when Star India paid $2.55 billion for five years of TV and digital rights up to 2022.
This time the collective base price from various categories has been kept at around $4 billion, a senior official told BCCI on condition of anonymity.
The money-spinning league, which expanded to 10 teams to include Lucknow Super Giants and Gujarat Titans and 74 matches this year is a huge revenue earner for the BCCI.
Pre-pandemic, the IPL was estimated to have generated more than $11 billion for the Indian economy each year.