BCCI releases tender for IPL media rights for 2023-2027
PremiumThe Governing Council of the IPL has invited bids from reputed entities to acquire the media rights to the Indian Premier League
The Board of Control for Cricket in India (BCCI) on Tuesday announced the release of the invitation to tender (ITT) for media rights to the Indian Premier League for the seasons from 2023 to 2027.
A tweet from BCCI said that the Governing Council of the IPL has invited bids from reputed entities to acquire the media rights to the Indian Premier League
Jay Shah, the board's honorary secretary tweeted that for the first time in its history, media rights will be e-auctioned beginning June 12.
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"), BCCI said.
The tender will be made available on receipt of payment of non-refundable fee of INR 25,00,000 plus any applicable Goods and Services Tax.
According to BCCI's standard guidelines, the process will take 45-60 days to complete after the tender has been issued.
The tender will be made available for purchase till May 10, 2022.
In his tweet, Shah said, "I've no doubts that with this process there will not only be revenue maximisation but also value maximisation, which will benefit India cricket immensely."
He said that with two new teams, more matches and engagement as well as more venues, they were looking to take the league to newer heights. It is expected that this time the IPL's digital rights will be valued as much as its broadcast rights.
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Star India that had bid and won the global media rights for IPL in 2017 for ₹16,347.50 crore is likely to bid again among other contenders such as Sony Pictures Networks India, Amazon Prime Video and Reliance-backed Viacom18. The media rights are expected to earn BCCI more than ₹30,000 crore, according to sports marketing experts.
In January this year, Tata Group replaced Chinese mobile phone manufacturer Vivo as title sponsor of the Indian Premier League T20 tournament following the decision of the event's governing council.
It is expected that the broadcast and digital media rights for the property is likely to see new bidders like Zee-Sony, Reliance-backed Viacom18 as well as Amazon Prime and existing
Starting this season, two new franchises Gujarat Titans and Lucknow Super Giants have been added by the BCCI to the tournament.
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