BCCI Delays WIPL Media Rights Auction, To Be Held On January 16 With Conditions Attached
Updated - 06 Jan 2023, 04:45 PM
The Women’s Indian Premier League (WIPL) media rights auction has been delayed by four days and will now take place on January 16. However, the Board of Control for Cricket in India (BCCI) has set the date with a few restrictions.
If the WIPL, which is expected to begin in the first week of March, doesn’t happen this year, it will be rebid next year, according to the statement.
IPL 2023 | Sri Lanka tour of India 2023 | Dream11 Prediction | Fantasy Cricket Tips | Cricket Match Prediction Today | Cricket News | Cricket Live Score | New Zealand tour of India 2023 | Australia tour of India 2023
All Media Rights Agreements To Stand Terminated In Case League Is Not Organized In Season 2023: BCCI
“If for any reason, 5 (five) Teams are not constituted to play in the League in Season 2023 or the League is not organized in Season 2023, then all the Media Rights Agreements shall stand terminated,” In the Invitation To Tender (ITT) document, the BCCI has referenced.
An important Indian Premier League (IPL) executive attempted to minimise the condition by stating that it is only a legal requirement in a document and that there isn’t much more that has to be done for the league to succeed this year. However, there is another provision in the ITT that should cause some concern. It reads:
IPL 2023 | IND vs SL 2023 | India vs Sri Lanka 2023 | India National Cricket Team | IND vs NZ 2023 | India vs New Zealand 2023 | IND vs AUS 2023 | India vs Australia 2023
“It is important to note that once the 5 (five) Teams are selected, participation by a Team in the League is subject to various terms and conditions, and BCCI is not providing any assurance or guarantee regarding the participation of all 5 (five) Teams.”
The BCCI has notified the broadcasting entities that the rights auction, which was originally scheduled for January 12th, will now take place on January 16th. The best bid, if not necessarily the biggest, will win the rights after a closed bidding procedure.
The greatest point of contention in the business centres on how much media rights should be valued, with various opinions on what the likely five-year total may be. It is believed that in the second and third years, when consumers and broadcasters would have a better understanding of the league’s calibre, the value of the rights will skyrocket. The ITT indicates that first year valuation cannot be less than 16% of the total estimate.
Team Auction Likely To Occur At The End Of The Month
The sale of teams, according to BCCI/IPL authorities, would be finished by the end of January, giving the new franchises at least one month well before start of the WIPL. The announcement of ITT for the right to own and manage a team in the WIPL was recently announced by the BCCI. Mumbai Indians, Chennai Super Kings, Kolkata Knight Riders, and Rajasthan Royals are said to be interested in purchasing a WIPL squad. It’s also thought that a few other entities are considering buying a WIPL franchise.
According to the BCCI, the ITT contains all of the specific terms and conditions regulating the tender process, such as eligibility requirements, the method for submitting bids, the rights and duties of the proposed team, etc and there is no base price for the purchase of the teams.
“Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid. The BCCI reserves the right to cancel or amend the bidding process at any stage in any manner at its discretion,” the BCCI said.
Virat Kohli | Rohit Sharma | Rishabh Pant | KL Rahul | Suryakumar Yadav | Sanju Samson | Shreyas Iyer | Yuzvendra Chahal | Jasprit Bumrah
Tagged:
The Board of Control for Cricket in India (BCCI) WIPL Women IPL
