BCCI e-auction: Day 1 ends at Rs 4,442 crore, bidding to resume today
Six companies had submitted bids for the TV and digital rights, but only three of them (Star India, Reliance Industries Ltd and Sony Pictures Networks India) were found eligible.
On the first day of the much-talked-about BCCI e-auction for media rights of India’s international and domestic matches yesterday, the bidding stopped at Rs 4,442 crore for the global consolidated rights. The bidding had started at Rs 4,176 crore. The auction will resume today at 11am.
Six major companies had submitted bids for the TV and digital rights, but only three of them (Star India, Reliance Industries Ltd and Sony Pictures Networks India) were found eligible. The entry of Reliance Jio in the picture has heated up the competition and all eyes are set at the auction.
The media rights will be granted for a period of five years from April 2018 to March 2023. The rights include all international and domestic cricket tournaments (including the Ranji Trophy and the Irani Cup) which are to be played in India until March 31, 2023.
The rights will be sold in three packages—1. Global Television Rights plus Rest of the World Digital Rights Package, 2. Indian Subcontinent Digital Rights Package and 3. Global Consolidated Rights Package.
To ensure the highest level of compliance, the BCCI is being assisted by MJunction Services Limited, Deloitte Haskins & Sells LLP and Cyril Amarchand Mangaldas for the auction.
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