BCCI Invites Bid For IPL Media Rights From 2023-27
The Board of Control for Cricket in India (BCCI) has invited bids for IPL media rights from 2023-27 cycle. Earlier Star India had paid a whopping Rs 16,347.5 crore for the 2018-2022 cycle. With the league’s popularity soaring and the addition of two new teams, that number could touch a staggering Rs 40,000 crore for the upcoming five-year cycle.
Companies interested in securing the rights to India cricket’s hottest property include Reliance backed Viacom 18, current right holders Disney Star, Sony (which had paid Rs 8200 for nine years, back in 2009) and streaming giant Amazon which could bid for the digital rights.
In a press release issued by the BCCI, Seceretary Jay Shah said: “I’m pleased to announce that BCCI has issued the tender document for IPL media rights for seasons 2023-27. With 2 new teams, more matches, more engagement, more venues, we are looking to take #TataIPL to newer and greater heights.”
“The Tender document is now available for purchase. For the first time in IPL history, the media rights will be e-auctioned. The e-auction will commence from June 12th, 2022 #TATAIPL,” he added.
The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) which will be made available on receipt of payment of non-refundable fee of INR 25,00,000 (Rupees Twenty-Five Lakhs Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this document. The ITT will be available for purchase till May 10, 2022.
Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria shall be eligible to bid. Merely purchasing this ITT does not entitle any person to bid. Earlier the Board also proposed six-team women’s IPL that is to take place from 2023 onwards. The Governing Council met for the first time in two years in person and A proposed an eight-team format with clear emphasis on the existing three franchises.