Reports: Multiple big brands come on board to buy IPL media rights document
Within a week of the Board of Control for Cricket in India (BCCI) putting out the Invitation-To-Tender (ITT) for selling the media rights of the Indian Premier League for the next cycle of 2023-27, almost all the big companies have brought the ITT. Brands like Sony, Disney, TV18-Viacom, Zee, and Amazon have shown interest in getting the media rights of the cash-rich event.
The list doesn’t end there as many other companies have also pitched in, whose names are not known so far. The e-auction will take place on June 12, and it is being said that the BCCI could potentially raise a huge sum of US$7.2b during the auction. Meanwhile, the deadline to get the ITT is May 10.
Apart from the Indian companies, the American tech biggie Apple is also expected to get its hand on the ITT, as reported by The Times of India. “Transparency will be the key and the revenues coming from sale or rights will be directed to India’s domestic structure, better infrastructure and welfare of the cricketing fraternity,” BCCI secretary Jay Shah told TOI.
The tender has been divided into four packages as the Television and Digital rights will be separated to permit various parties to broadcast a smaller conglomeration of games at the same time. Apart from that, there would be a separate package for people in other parts of the world. The obvious connotation of that package is that a composite bid may not be possible.
The media rights shall be divided into four different packages
Here are the four categories of the package:
A) Television rights for India subcontinent
B) Digital rights
C) A collection of 18 matches (The inaugural game, the playoffs games, weekend double-headers, and evening games)
D) Rest of the World
The starting price or the base price of the four-category package has been decided at ₹32,890 crore. The per match base price of the television rights has been kept at ₹49 crore by the BCCI. If the matches should be increased, then the additional amount shall be charged on a pro-rata basis. It will be followed by ₹33 crore for the digital rights, ₹16 crore for the 18-match bundle, and ₹3 crore for the rest of the world.
“The packages have been divided in a manner where it ensures maximum participation. This will keep the competition intense, and transparent and allow BCCI to maximise its revenue potential to the fullest,” BCCI treasurer Arun Dhumal said.
The auction will go on for two days, with the sale of the first two categories taking place on the first day, followed by the sale of the remaining two categories on the second day. It has also come to notice that the Category A of the package shall be bid only by an Indian buyer with a net worth of ₹1000 crore or more as on March 31, 2021.
