New Delhi, Sept 18: Promising a “historic” new beginning, the BCCI today announced an open tender process for allocating the cash-rich IPL’s global broadcasting rights for 10 years, a move that conforms to the Lodha Committee recommendations on transparency in business deals.
“We are happy to announce the tender process for IPL Global Media Rights (TV and Digital) for next 10 years,” BCCI President Anurag Thakur announced in a press conference here.
Currently, the IPL’s media rights are held by Sony Pictures Network India (SPNI), a deal that comes to an end after the event’s next edition in 2017.
According to the invitation, different packages for Television and Digital will be on offer, which includes Indian Subcontinent TV rights for 2018-2027, Indian Subcontinent Digital rights will be for five seasons from 2018-2022 and there will a five minutes delay for TV transmission.
As part of the process of bidding, BCCI said there will be no obligation for the Indian Board to accept the highest financial bid and BCCI retains the discretion to amend process at any time.
“It is in keeping with the highest level of transparency. Sometimes you get very similar bids and then the financial adviser look at the value of the money. The final definition of the best offer for BCCI have to be left to the financial adviser,” BCCI CEO Rahul Johri said.
Explaining the time table for the bidding, Johri said October 18 will be the last date for purchase of tender and October 25 will be the last date for bid submission.
Sony Network had the first right to make an offer to the Board but the BCCI has decided to go for an open tender. The move is likely to find favour with the Supreme Court-appointed Lodha panel, which has advocated transparency in the BCCI’s business deals. (PTI)
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