BCCI floats IPL media rights tender: e-auction on June 12
The notification regarding the Indian Premier League (IPL) is finally put for sale by the BCCI through. The e-auction of the IPL media rights will take place on June 12.
Jay Shah, the secretary of BCCI, stated that he has no doubts that with this process there will be both value and revenue maximization. This will benefit Indian Cricket immensely, he added. The auction process could be a multi-day affair with multiple packages up for grabbing the opportunity.
The sale of India’s international cricket rights was the last time the e-auction method was adopted by the BCCI. This took place in 2018 and the process stretched for two days.
This is the first time that IPL is implementing the e-auction method for the IPL media rights. The BCCI secretary added that they are aiming to take Tata IPL to a new level with 2 new franchises, more matches, venues, and engagements. The Tender document is accessible for purchase, he added.
Details about the IPL media rights tender
The invitation to the tender document will be available at a non-refundable RS 25 lakh, the BCCI stated on Tuesday. It was previously, charged RS 10 lakh, non-refundable. The purchase includes the Goods and Services Tax. The ITT will be available for purchase till May 10, 2022, the BCCI confirmed.
The biggest question that arises is how much will the BCCI command for the value rights. The common market point of view is it will be crossing Rs 40000 crore. However, the BCCI assets have a track record of producing colossal numbers.
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Cricket Australia in Mumbai to study the market
A three-member team of Cricket Australia has arrived in Mumbai to study the market situation while the BCCI is prepping for the sales of the IPL media rights. Their arrival comes before their own renewal of the rights which will be renegotiated next year.
The Nikki Linney-led team has been meeting the various broadcasters and OTT platforms. This includes their current media partner in India, Sony. There are confirmations regarding their meetings with Viacom Network, Star, Amazon Prime as well as Fancode representatives.
A television channel official said that they might have come here to do research on the Indian market. A CA official has confirmed that it is a team visit in India and they are meeting with the stakeholders as a part of normal business activity after a long period of being not able to travel.