The BCCI has baffled ICC after announcing that the tender for media rights of IPL for the 2023-2027 cycle will be released after the announcement of the addition of two new franchises on 25th October.
International Cricket Council had earlier announced this month that would like to avoid a clash with BCCI for media rights. As a result, they were planning to initiate their plans for selling their own media rights in December. However, the Board of Council of Cricket in India’s announcement of releasing the tender for media rights must have left ICC astonished.
The BCCI disclosed this news in a official statement on their website yesterday. “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.”
ICC in a disadvantageous situation after the announcement of BCCI releasing media rights in October
ICC will have to rethink their strategy as the Sourav Ganguly led BCCI has made the first move by officially announcing the date for tender of media rights. With this announcement, the International Cricket of Council will face a big setback as big companies will bid more for the rights of IPL.
Consequently, Ashish Chedha who is the CEO explained how BCCI releasing their tender for media rights earlier than expected will cause ICC problems.
Whoever comes to the market first will be at a advantageous position. First mover can get better values & the second to market will suffer because of ask being so big. Disney Star, Sony Sports, Viacom 18 new sports venture or players like Amazon will be the likely bidders for the rights. As per the expectations of both parties value closer to $7 Billion is required to acquire both the portfolios. Our understanding tells IPL will be at advantage hitting the market 1st & get better traction.”
Following this news, a source in the ICC made a new revelation regarding the plans of the Internation Council while speaking to Insidesport. “It’s right, ICC this time is likely to shun the process of selling all rights to one broadcaster as is the case with the current cycle of ICC rights where Star holds the entire global pie. ICC is likely to distribute their rights on the territory to territory basis.”
It is needless to say that ICC will suffer a serious loss with this announcement by BCCI. Moreover, the inclusion of two new franchises will make the market bid a larger sum of money to gain the media rights of money.