IPL Media Rights Tender May be Delayed Earlier
The media rights tender for the Indian Premier League (IPL) is already delayed, which is sure to take more time. The Board of Control for Cricket in India (BCCI) had announced. That this would be doing soon after the appointment of two new IPL teams at the end of October. Now it can come only next month.
The After a Governing Council meeting :-
“The IPL Media Rights Tender for 2023-2027 will be floating immediately. After the appointment of two new IPL teams. Which will be announcing on 25 October 2021,” The BCCI said in a media notice after a Governing Council meeting. IPL on 28 September. It has been almost a month since the BCCI released two new teams.
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Cricbuzz finds that there could be three significant reasons for the persistent delay in awarding tenders, which are expected to fetch Rs 30,000 crore (a little over $4 billion).
One reason for this could be the irregularities regarding the 10th IPL franchise. Although BCCI had released that CVC Sports had won the Ahmedabad franchise. Their bid has run into some kind of concern, due to which BCCI has not yet issued a letter of intent.
The BCCI Auction Process :-
The second reason is believing to be that the BCCI may be erratic on the auction process – whether to go for e-auction or opt for closed bidding. Some argue that closing bids can fetch a huge amount from the party that is eager to buy the property.
For example, Sanjeev Goenka’s RPSG Group. Which recently placed a bid of Rs 7090 crore to stay away from any potential rivals to win. The Lucknow franchise was Rs 1,500 crore more than the second-highest bid.
In the case of e-auction, the highest bidding may be only slightly higher than that of the nearest competitor. Although e-bidding has its advantages when there are multiple parties who are equally aspiring to buy the property. In India, all three potential bidders – Star, Sony-Zee, and an upcoming channel from Jio – are expecting to be fierce rivals.
The third reason could be the upcoming Annual General Meeting (AGM) of BCCI on December 4, when the new IPL Governing Council with three new members will be set up.
When contacted, a BCCI official declined to discuss the reason for the delay. “It will take a little more time,” he said. Regarding the status of the CVC bid. The parties are saying to be close to a settlement.
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The PCB invites bids for Australia, WI series :-
Meanwhile, the Pakistan Cricket Board (PCB) has invited spread bids for two home bilateral series in the Pakistan region – against West Indies next month and against Australia in March-April next year.
It added that the Invitation to Tender (ITT) document would be freely accessible at the PCB office till November 29 and the bids would be opened on December 2. Jio TV, state broadcaster PTV’s PTV Sports, and Sony Pictures Network’s Ten Sports.