Cricket News By TODAYLIVESCORE.INFO - IPL media rights tender set to be delayed further. The new bids could potentially fetch over INR 30000 Cr
The new bids could potentially fetch over INR 30000 Cr
The media rights tender of the Indian Premier League (IPL), already delayed, is set to take more time. The Board of Control for Cricket in India (BCCI) had announced that it would be done immediately after the appointment of the two new IPL teams late October. It could now come only next month.
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” the BCCI had said in a media release after a governing council meeting of the IPL on September 28. It has been close to a month since the BCCI announced the two new teams.
Cricbuzz learns there could be three critical reasons for the continued delay in releasing the tender which is expected to fetch over Rs 30,000 crore (a little over $ 4 billion). One of the causes could be uncertainty surrounding the 10th IPL franchise. Although the BCCI had announced that CVC Sports had won the Ahmedabad franchise, their bid has run into some sort of trouble because of which the BCCI is yet to issue the Letter of Intent.
The second reason, it is understood, is that the BCCI could be undecided over the process of auction – whether to go for an e-auction or opt for closed bidding. A closed bidding, some argue, can fetch a very high amount from a party that is desperate to buy the property. For instance, the RPSG Group of Sanjiv Goenka, which had placed a whopping Rs 7090 crore bid to stay clear any potential competitors to win the Lucknow franchise recently was close to Rs 1500 crore more than the second highest bid.
In case of an e-auction, the highest bid could only be marginally higher than the closest competitor although e-bidding has its advantages too, when there are multiple parties who are equally keen to buy a property. In India all three potential bidders – Star, Sony-Zee and an upcoming channel from Jio – are expected to fiercely compete among themselves.
The third reason could be the upcoming Annual General Meeting (AGM) of the BCCI on December 4 when the new Governing Council of the IPL will be constituted with the induction of three new members.
When contacted, an office-bearer of the BCCI refused to discuss the reason for the delay. “It will take a little more time,” he said. As for the status of the CVC bid, it is being said that the parties are close to a settlement.
PCB invites bids for Aus, WI series
Meanwhile, the Pakistan Cricket Board (PCB) has invited broadcast bids for two home bilateral series in the Pakistan region – versus West Indies next month and versus Australia in March-April next year. It said the Invitation To Tender (ITT) document will be available in the PCB office free of cost till November 29 and the bids will be opened on December 2. Potentially, there could be four bidders – A Sports of ARY TV, Geo Sports of Geo TV, PTV Sports of state broadcaster PTV and Ten Sports of Sony Pictures Network.