BCCI floats tender for a recent cycle of Media Rights of the Tata IPL: The Board of Control for Cricket in India (BCCI) on Tuesday floated the Invitation To Tender (ITT) doc out there for the media rights of the subsequent cycle of the Indian Premier League (IPL). The subsequent cycle of the IPL media rights will run from 2023 to 2027.
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The cricket board additional revealed that for the very first time the e-Auction shall be held for the sale of media rights of the IPL. The final time BCCI performed an e-Auction was in 2018 for the sale of Indian cricket’s media rights.
Though the method of e-auction could run for a number of days, the ultimate name shall be taken on June 12 by the office-bearers. As per the consultants, the method could take anyplace from 40-60 days to finish your entire tender course of.
“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,” Shah mentioned confirming the e-auction date.
Mr Shah knowledgeable that the Invitation to Tender (ITT) doc is stay on the market and is priced at INR 25 Lakhs, non-refundable, plus any relevant Goods and Services Tax. In the earlier cycle of the media rights, the ITT doc was bought at INR 10 Lakhs.
“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 shall be made accessible on receipt of fee of non-refundable price of INR 25,00,000 (Rupees Twenty-Five Lakhs Only) plus any relevant Goods and Services Tax. The process to obtain the ITT paperwork is enlisted in Annexure A to this doc. The ITT shall be accessible for buy until May 10, 2022,” the BCCI mentioned.
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Star, Sony Pictures Networks India, Amazon Prime Video and Reliance-backed Viacom18 are a few names that shall be within the race to win the IPL 2023-2027 media rights. The present media rights of the Indian Premier League (IPL) are with the Star India community. Star paid INR 16,347.50 crores to win the media rights of the profitable T20 event again in 2017.
According to market consultants, a windfall of anyplace over INR 40,000 Crores (over $5 Billion) is anticipated because the BCCI affirm the sale of the IPL media rights.
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