BCCI floats tender for a fresh cycle of Media Rights of the Tata IPL: The Board of Control for Cricket in India (BCCI) on Tuesday floated the Invitation To Tender (ITT) document in the market for the media rights of the next cycle of the Indian Premier League (IPL). The next cycle of the IPL media rights will run from 2023 to 2027.
The cricket board further revealed that for the very first time the e-Auction will be held for the sale of media rights of the IPL. The last time BCCI conducted an e-Auction was in 2018 for the sale of Indian cricket’s media rights.
Though the process of e-auction may run for multiple days, the final call will be taken on June 12 by the office-bearers. As per the experts, the process may take anywhere from 40-60 days to complete the entire tender process.
“I’ve no doubts that with this process there will not only be revenue maximisation but also value maximisation, which will benefit India Cricket immensely,” Shah said confirming the e-auction date.
Mr Shah informed that the Invitation to Tender (ITT) document is live for sale and is priced at INR 25 Lakhs, non-refundable, plus any applicable Goods and Services Tax. In the previous cycle of the media rights, the ITT document was sold at INR 10 Lakhs.
“The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) which will be made available on receipt of payment of non-refundable fee of INR 25,00,000 (Rupees Twenty-Five Lakhs Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this document. The ITT will be available for purchase till May 10, 2022,” the BCCI said.
Star, Sony Pictures Networks India, Amazon Prime Video and Reliance-backed Viacom18 are a couple of names that will be in the race to win the IPL 2023-2027 media rights. The current media rights of the Indian Premier League (IPL) are with the Star India network. Star paid INR 16,347.50 crores to win the media rights of the lucrative T20 tournament back in 2017.
According to market experts, a windfall of anywhere over INR 40,000 Crores (over $5 Billion) is expected as the BCCI confirm the sale of the IPL media rights.