The Board of Control for Cricket in India (BCCI), on Tuesday, March 29, 2022, announced the release of Invitation to Tender (ITT) for the media rights of the Indian Premier League for the 2023-27 cycle. The board is expecting a windfall of INR 50,000 crores.
With the expansion of IPL from 60 to 74 matches after the inclusion of the Gujarat and Lucknow franchises, there is likely to be a bidding war from its peers which include Zee-Sony and Reliance Viacom 18. The BCCI is expecting aggressive bidding for the digital space between the likes of Amazon Prime, Meta, and YouTube.
The IPL Governing Council invited bids from “reputed entities” to own the media rights through a tender process, the details of which, a BCCI press release stated, will be “made available on receipt of payment of a non-refundable fee of INR 25,00,000”.
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“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”) which will be made available on receipt of payment. The ITT will be available for purchase till May 10, 2022,” the statement from BCCI read.
The release further explained the regulations saying that while any party interested in submitting a bid is required to purchase the ITT, however, “only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. BCCI reserves the right to cancel or amend the bidding process at any stage in any manner at its discretion.”
The ITT will be available for purchase till May 10.
Meanwhile the BCCI secretary Jay Shah took to Twitter and said that with the addition of two new franchises to the Indian Premier League, the BCCI is aiming to take the tournament to “newer and greater heights.”
“I’m pleased to announce that @BCCI has issued the tender document for @IPL media rights for seasons 2023-27. With 2 new teams, more matches, more engagement, more venues, we are looking to take #TataIPL to newer and greater heights,” read his tweet.
“The Tender document is now available for purchase. For the first time in @IPL history, the media rights will be e-auctioned. The e-auction will commence from June 12th, 2022. 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,” it added.
(BCCI/ PTI inputs)
