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BCCI stumps ICC as IPL media rights tender to be released in October after announcement of 2 new teams
IPL Media Rights Tender – ICC vs IPL Media Rights – The Board of Control for Cricket in India (BCCI) has stumped the International Cricket Council (ICC) by announcing that the tender for IPL media rights for the 2023-2027 cycle will be released right after the announcement of the two new teams on October 25th.
The development comes just after InsideSport.co revealed that ICC wanted to avoid the clash of IPL media rights tender & will be launching their own tender in December. But the Sourav Ganguly-led Indian board has managed to stump them by deciding to release their tender before them in October.
IPL Media Rights Tender: “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 BCCI said in a statement on Tuesday.
IPL vs ICC Media Rights – How the clash will impact the parties? Currently, Star holds both IPL and ICC rights portfolios. Both rights currently are collectively valued at $4.45 Billion (ICC $1.9 / IPL $2.55) & both parties are looking for a substantial increase in the value of their portfolios.
ICC’s current deal is valued at $1.9 billion that was an 80% jump from the previous cycle ($1.1 billion).
On the other hand BCCI sold IPL rights to Star India for $2.55 billion for five years which will end with IPL 2022.
BCCI also expects nearly $4 Billion from the next cycle of IPL Rights.
“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”, according to Ashish Chadha, CEO of Sporty Solutionz, company that deals with Sports Media Rights Portfolios. Inside Sports
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