BCCI’s new policy shakeup to allow media rights' bid from consortiums
According to a Bloomberg article, the Board of Control for Cricket in India (BCCI) is apparently contacting more corporations to persuade them to participate in the forthcoming auction for media rights. According to the report, the country's all-powerful cricket regulating body is enticing international behemoths like Amazon and Google to participate in the bidding for the media rights to be obtained for India's bilateral series for a term of five years.
In an earlier decision, the cricket board opted to push back the media rights sale by almost two weeks in order to give itself more time to entice businesses to participate in the auction.
According to the article, it is surprising that companies that had recently competed against one other for the lucrative T-20 cricket event Indian Premier League have shown little interest in the rights.
According to Board secretary Jay Shah, a new media rights agreement with the BCCI for bilateral series played at home will be signed by the end of August.
According to a number of media sources, the media rights for the Indian cricket team's home matches will likely bring in more than Rs 12,000 crore for the Indian cricket board. Disney-Star currently had the media rights, which expired in March 2023 with the series against Australia.
The board was reportedly considering awarding separate media rights for TV and digital broadcasting this time around in a tender that would be issued in the near future for the following four years, according to earlier media reports. When the cricket board most recently sold media rights, they made Rs. 6,138.10 crore.
The board claims that instead of TV, individuals are increasingly choosing digital. It plans to release separate media rights auctions for TV and Digital for this reason.
A board representative recently stated that the media rights procedure has begun. This time, separate tenders will be floated for TV and digital, although the Apex Council meeting will ultimately make the decision. "We got a very good response regarding the media rights of IPL, and we want to continue this further," the official had stated.