The media rights tender for the bilateral India games has already been published, so the wait is finally over. The Board of Control for Cricket in India (BCCI) has made the opening of the tender public and is now accepting bids for the media rights to all domestic and international matches played in India.
According to the BCCI, the Invitation To Tender (ITT), which may be obtained by paying a non-refundable charge of INR 15 lakh, will contain the full terms and conditions.
The “Invitation to Tender” (“ITT”), which will be provided upon payment of a non-refundable fee of INR 15,00,000 (Indian Rupees Fifteen Lakh Only), plus any applicable Goods and Services Tax, sets forth the tender process, including eligibility requirements, bid submission, rights, and obligations, etc.
Up through August 25th, you can purchase the ITT. Any interested entity that wants to submit a bid must purchase the ITT, the BCCI continued. To submit a bid, you must, however, meet the ITT’s eligibility requirements and agree to all of its other terms and conditions. It should be emphasized that merely acquiring the ITT does not give anyone the authority to submit a bid. At any time and without giving a reason, the BCCI maintains the right to halt or alter the bidding procedure.
Google and Amazon approached?
According to rumors, the BCCI has contacted Alphabet Inc. (Google) and Amazon.com Inc. to join. The approach’s obvious goal is to raise interest in the sector, which has recently started to become more sluggish due to a number of causes.
With news that Disney Star is aggressively looking for a strategic alliance, there is a perception in the market that the present broadcaster may not be a serious rival. Another conventional broadcaster with a sizable linear audience, Sony, is understood to approach its offer cautiously. Another competitor, Zed, is currently working to complete the long-awaited merger with Sony, so it’s unclear how aggressively it will go after the rights. With a focus on digital rights, Viacom 18 is now a strong competitor in this circumstance.
“The comparatively subdued response from media companies ahead of the auction highlights the difficulty in making money in the face of declining ad revenues, especially in light of the increasing audience attracted by the shorter-format IPL over time. According to Ernst & Young, the process of the auctions “is running two weeks behind the schedule advised by its advisor, which had projected the auctions to conclude by the end of August,” according to Bloomberg.
It is predicted that there will be 102 games in the upcoming five-year cycle, which is expected to end in 2027, as previously stated on this platform. The BCCI had stated that the sale will be finished by the end of August, but the Tuesday announcement indicates that this deadline is unlikely to be met.