ICC
ICC. Image: Twitter

According to a news report, Sony Pictures Networks India (SPN), Disney star, Zee Entertainment, and Viacom18 have expressed concerns about a “lack of transparency” in the upcoming media rights auction process for international cricket events like the ICC Men’s World Cup, T20 World Cup, and Champions Trophy.

As SPN has addressed a letter to the International Cricket Council (ICC) regarding the auction process, potential bidders for media rights in India have raised red flags on four points. economic conditions Told.

ICC
International Cricket Council. Photo: AFP

According to a report in ET, the top four Indian broadcasters who have purchased the tender materials and used sealed envelope bidding have criticized e-auction.

BCCI Secretary Jay Shah
BCCI Secretary Jay Shah (Image Credit: Twitter)

Executives from all four companies told ET that they have also raised concerns about the following: a) the three-week delay between bid submission and announcement of the winner; b) the lack of clarity regarding the multiplier formula for four-year versus eight-year rights; and c) the requirement for a 5% down payment upfront.

 ICC had not kept any reserve price for auctions:

The broadcasters believe that the ICC should adopt a similar strategy to the transparent e-auctions that the Board of Control for Cricket in India (BCCI) has already used, according to ET.

According to a senior executive of a television network, “To conduct a sealed bid auction and then hold off for three weeks is unheard of in the modern world. Why should they have my financial offer for three weeks?”

Jay Shah and Saurav Ganguly
Jay Shah and Saurav Ganguly (Image Credits: Twitter)

He told the newspaper that the ICC could gather all of the directors in one location to begin the bid opening “They have to wait three weeks instead. Is it to be renegotiated?”

An earlier report by ET said that the ICC had not set a reserve price for auctions since it had invited sealed bids by the end of August from potential buyers.

A representative from the world cricket governing organization told ET that the ICC was looking for bid submissions by the third week of August and that by the first week of September, it would have developed recommendations to the board for final approval.

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