‘Bye Bye Star Sports?’ BCCI To Offer IPL Media Rights & Are Going To Become Filthy Rich
The Board of Control for Cricket in India (BCCI) has published a media rights tender for the Indian Premier League seasons between 2023 and 2027, with an e-auction set to begin on June 12.
The Indian Cricket Board filed the media rights tender for the 2023-2027 IPL seasons on Tuesday, hoping to make a windfall of about Rs 50,000 crore. For the first time in IPL history, the BCCI will hold an e-auction for new bidders, which will begin on June 12th.
According to the board’s secretary Jay Shah, the BCCI administrators are hoping to push the Indian T20 league to new and greater heights with two new teams, more matches, more involvement, and more venues.
Shah claims that he has no doubts that this method will result in not only revenue maximisation but also value maximisation, which will greatly assist Indian cricket.
Star India has the current five-year rights (TV and digital) for the IPL from 2018 to 2022, but those in decision-making positions say the valuation, which is now Rs 16,347.50 crore (USD 2.55 billion), is too low.
Back in December 2021, it was analysed that the valuation for the next five-year cycle of the IPL media and digital rights will be between approximately Rs. 36,000 crore. However, within the next three months, it has been declared by the BCCI that the actual valuation might be over Rs 14,000 crore more than the previously predicted numbers.
Therefore, almost a three-fold boost in the media rights valuation could be seen as early as June 12th and one of the biggest reasons for that would be the addition of Gujarat Titans and Lucknow SuperGiants teams which has led the IPL to expand from 60 to 74 matches, resulting in a bidding battle among its counterparts, including Zee-Sony and Reliance Viacom 18.
Amazon Prime, Meta, and YouTube, among others, are expected to compete aggressively for digital space, according to the BCCI.
The entire terms and conditions are listed in the ‘Invitation to Tender’ (ITT), which will be made available upon receipt of a non-refundable deposit of Rs 25 lakh excluding GST, according to a statement released by the BCCI.