IPL Broadcasting Rights: The Board of Control for Cricket in India (BCCI) on Tuesday issued a tender for media rights for the T20 league Indian Premier League (IPL) for the 2023-27 season.
BCCI said that the e-auction for this will start on June 12. BCCI Secretary Jay Shah tweeted that the tender document is now available for purchase. It was said in the tweet that for the first time in IPL history, media rights will be e-auctioned.
The e-auction will start on June 12, 2022. It is believed that by selling media or broadcasting rights of IPL 2023-2027, BCCI can get a hefty price of Rs 45000 crores, because this time it plans to sell the rights to show matches on TV and OTT separately.
Board secretary Jay Shah tweeted that for the first time in history, the e-auction of media rights will start on June 12.
The BCCI said that the detailed terms and conditions governing the tender process, eligibility requirements, procedure for submission of bids, proposed media rights package and obligations etc. are contained in the Invited Tender (ITT).
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This tender will be made available on receipt of payment of Goods and Services Tax along with a non-refundable fee of Rs.25 lakh.
As per the BCCI's standard guidelines, it will take 45-60 days to complete the process after the tender is floated. The tender will be made available for purchase by May 10, 2022.
Shah said in his tweet, I do not doubt that this process will not only maximize revenue but also maximize value, which will greatly benefit Indian cricket. Shah said that he hopes that by organizing 2 new teams and more matches, the IPL will reach new heights.
BCCI plans to sell the rights to show matches on TV and OTT separately. Along with Star, many companies are involved in the race to buy IPL media rights, which can create new competition for these rights. Currently, the broadcasting rights of IPL are with Star Sports, which ends with the 2022 season.
Media rights are the biggest source of income for BCCI and teams in IPL. About 70 per cent of the total earnings of IPL come from this.
-IPL was started in 2008. Before this, media rights were bought by Sony till 2017 i.e. for 10 seasons. For this Sony had spent 8200 crores.
In the year 2018, these rights were sold again and this time BCCI got almost double the price for it. Star Sports bought IPL broadcasting rights for Rs 16,347 crore for 2018-2023 i.e. five years.
Now IPL broadcasting rights are to be sold again for five years from 2023 to 2027, but this time BCCI will sell these rights by dividing them into four separate packages instead of one package.
By selling the rights in four separate packages, the BCCI is expected to get a manifold higher price. Also, with this, more than one company will have the opportunity to buy these rights.