The Board of Control for Cricket in India (BCCI) is holding an E-Auction for the first time, to trade the media rights for the Indian Premier League (IPL), for the next five years, from 2023 to 2027.
The previous auction was held back in 2017, by the board, for the rights. The auction generated a massive roll-over prize for the BCCI, as Star India had to pay a substantial amount of INR 16,347.5 crore (approx. US $2.55 billion then), to vend the IPL media rights for five years (2018-22).
Although there was closed bidding in 2017, now it has changed to bidders and there will be separate bids for different packages. The buyers can decide whether or not to continue bidding for the rights, after a precise phase.
BCCI, again, is anticipated to procure an enormous percentage of revenue, from the auction. More importantly, Viacom-led JV, Disney+Hotstar, Culver Max Entertainment early Sony Pictures), Zee Group, Supersport, Times Internet, and Fun Asia, are the firms in the rousing race, according to the reports from the TOI.
E-Auction to come off in four separate segments
The E-auction got started on June 12 (Sunday) at 11 AM and shall come off in four separate segments (A, B, C, and D). A will be for Television mediums (in India), B for Digital mediums (in India), C for a non-exclusive set for 18 matches for digital mediums (India), and D will be for the Rest of the World.
The base prices for each package are:
INR 49 crore per match for Package A
INR 33 crore per match for Package B
INR 11 crore per match for Package C
INR 3 crore per match for Package D
Also, as the number of matches has increased to 74, after the inclusion of two more teams this year, INR 32,890 crore is the reserve price for the next five years. Moreover, the board has made some changes in the number of matches as there will be 74 matches in the first two years of the cycle 2023-27.
While, for years three and four and year five, 84 and 94 matches will be played, correspondingly. 410 matches are going to be played in the upcoming cycle, according to the TOI reports.
Written By Prachi Pisal