After the Board of Control for Cricket in India (BCCI) released an Invitation to Tender (ITT) for media rights to the Indian Premier League seasons 2023-2027 on Tuesday, 29 March, giants like Amazon, Disney, Sony, Zee and TV-18 Viacom have expressed interest in bidding.
Technology giant Apple is also expected to purchase the ITT next week.
The e-auction is scheduled to be held on 12 June this year. The BCCI expects to raise their revenues by more than $7 billion as a result of the auction, the deadline to apply for which is 10 May.
"Transparency will be the key and the revenues coming from sale or rights will be directed to India's domestic structure, better infrastructure and welfare of the cricketing fraternity," BCCI secretary Jay Shah was quoted as saying by The Times of India.
4 Bundles for Media Rights
The media rights will be available in four separate bundles:
1. Television rights for the India subcontinent
2. Digital rights
3. A cluster comprising 18 matches (season opener, four playoffs and evening matches of the double-headers on weekends)
4. Rest of the world.
All companies that satisfy the eligibility criteria will have to bid separately for each of the bundles as the BCCI, for the first time, announced that it would not permit consolidated bids.
The base price of whole package has been fixed at Rs 32,890 crore.
Bidding Rules
The sale for the first two bundles will take place on the first day of the auction, while the latter two will be bid on on the next day, TOI reported.
The first bundle can be bid on only by an Indian broadcaster with a net value of more than Rs 1000 crore as on 31 March, 2021. A minimum net value of Rs 500 crore is necessary for companies to bid on the rest of the bundles.
Arun Dhumal, BCCI treasurer, said, "The packages have been divided in a manner where it ensures maximum participation. This will keep the competition intense, transparent and allow BCCI to maximise its revenue potential to the fullest."
(With inputs from The Times of India.)
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