BCCI Opts For Online Auction For Bilateral Media Rights For Domestic And International Cricket Matches
Published - 03 Aug 2023, 06:54 PM | Updated - 23 Aug 2024, 12:16 AM
The Board of Control for Cricket in India (BCCI) has officially rejected the closed bidding option and instead decided to hold an online auction for the media rights. Furthermore, the BCCI has separated the digital and television packages, and composite bids are not permitted in this auction.
According to the recent Cricbuzz report, the BCCI‘s decisions were the leading factors behind the significant delay in the release of the media rights tender for the bilateral series. The world’s richest cricket governing body carefully deliberated on these alterations before making the announcement.
Digital Rights Divided Into Two Different Parts
The BCCI issued the Invitation To Tender (ITT) on August 3, providing details about two separate packages. Package A focuses on exclusive Indian sub-continent television rights, while Package B includes Indian sub-continent digital rights and the Rest of the World TV and digital rights combined.
Package B has a higher base price of Rs 25 crore, while Package A is set at Rs 20 crore. Together, both packages have a combined base price of Rs 45 crore. However, the BCCI has imposed conditions, stating that if the total falls short of Rs 60 crore, they reserve the right to cancel the entire process.
Bidding will take place on August 31, and interested parties can access the ITT until August 25 by submitting a non-refundable fee of Rs 15 lakh (plus GST). The media rights cycle from September 1, 2023, to March 20, 2028, includes 88 games, featuring 25 Tests, 27 ODIs, and 36 T20 Internationals.
Ernst & Young, the agency engaged by the BCCI, has recommended the online method of sale for higher returns. However, the Indian Cricket Board also considered the advantages of a one-shot bidding approach. The media rights auction process is expected to be completed by the end of August.
The Indian cricket team is currently in the Caribbean for a series against the West Indies. The Men in Blue have registered victories in both the Test and ODI series. The team will play a five-match T20I series, with the first game scheduled to be at the Brian Lara Stadium in Trinidad on August 3.
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Board of Control for Cricket in India (BCCI)
