BCCI to release IPL media rights tender immediately after unveiling 2 new teams on 25 Oct

The statement was released by IPL Governing Council on Tuesday

e4m by exchange4media Staff
Updated: Sep 29, 2021 10:40 AM
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The Indian Premier League (IPL) media rights tender for the cycle 2023-2027 will be released immediately after the announcement of the two new teams on 25th October, the IPL Governing Council said on Tuesday. 
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams, which is scheduled to be announced on 25th October 2021,” the IPL GC said in a statement.

The IPL media rights are currently held by Disney-owned Star India, which had paid Rs 16,347.5 crore for the five-year global media rights. It is expected to face stiff competition from Sony Pictures Networks (SPNI), and Reliance-backed Viacom18, besides Amazon and Facebook.

The BCCI is eyeing a windfall from the auction of IPL media rights 2023-2027 due to the popularity of the property and the addition of the two new teams.

The BCCI had set a base price of Rs 2000 crore for each franchise. The average net worth as well as the average turnover of each bidder for the last three years must be at least Rs 3000 crore. In case of a consortium bid, the average net worth and turnover for the last three years of each member of the consortium must be at least Rs 2500 crore.

Each prospective bidder will be required to provide a bid security deposit of Rs 75 crore. The BCCI will return the bid security deposit to all unsuccessful Bidders without interest to such bidders. A bidder may bid for one or more of the new franchises/stadiums, but will be granted rights in relation to one franchise or stadium.

The cities on offer for bidding include Ahmedabad (Narendra Modi Stadium), Cuttack (Barabati Stadium), Dharamsala (Himachal Pradesh Cricket Association Stadium), Guwahati (Barsapara Cricket Ground), Indore (Holkar Stadium), Lucknow (Atal Bihari Vajpayee Ekana Cricket Stadium).

Subject to the successful allotment of two new franchises, the IPL will comprise 10 teams and a minimum of 74 matches from the 2022 season onwards. Star India, which owns the IPL media rights, will have to pay a higher fee to the BCCI for the 2022 season, which is also the last and final season of the current media rights cycle.

Meanwhile, in a first for the IPL, the last two league matches before the IPL 2021 Play-offs will be played concurrently. On the last day of the league stage (08.10.2021) of the ongoing season, instead of having one afternoon match and one evening match, two matches (SRH v MI and RCB v DC) will be played simultaneously at 7.30 PM IST (6.00 PM GST).

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