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BCCI’s bilateral media rights tender hits the market
Industry sources say the Indian board has decided to stick with e-auctions which fetched them impressive returns in the last cycle
The Board of Control for Cricket in India (BCCI)’s media-rights tender for the Indian team’s bilateral matches hit the market on Wednesday, exactly 50 days before the new cycle sets in, with India taking on Australia in 3 ODIs – these matches would serve as a dress rehearsal for the World Cup.
That’s the big reality check in cricket’s commercial evolution as bilateral white-ball matches have become little more than preparation for ICC World Cups, even as Test cricket labours to remain commercially attractive. This, and the premium pricing that the Indian Premier League (IPL) now commands is something broadcasters would factor in, before deciding to place bids and decide on how aggressively to go.
The last bilateral rights cycle (2018-23) proved to be a very fruitful one for the BCCI, where valuations ( ₹6138 crore) increased over one and a half times. At the time, each bilateral match was valued to be worth ₹60 crore – ₹6 crore more than IPL’s then value.
Since then, IPL’s stocks have raced way ahead of bilateral cricket. One understands, the Indian board hasn’t been ambitious in setting the base price, unlike IPL bids last year, where bidding began at two times of the old value.
Around 100 matches across formats are expected to be played in the new cycle (2023-28) which at reserve pricing would make the BCCI richer by ₹6000 crore. Will the valuations rise, if not leap forward like last time?
E-AUCTION
The last cycle was the first time, the Indian board embraced e-auctions and industry sources say, they have decided to stick to the same process this time as well.
Ernst & Young, BCCI’s consultants for the auctions, had also offered them the option of going for closed bidding based on prevailing market circumstances. “It’s important for us to remain transparent and that’s what the e-auction process is known to be,” a BCCI official recently said.
The option of going for closed bidding comes from Disney Star’s (previous holders) perceived non-interest in the upcoming bidding. An American business daily recently reported that Disney is searching for buyers or is keen to offload stakes from the cost-sensitive Indian market.
If that proves to be true, IPL’s digital rights holders’ Viacom 18 could hold all the aces during bidding, left to withstand competition only from Sony and Zee – a merger of the two broadcast majors remains in the works.
It's no coincidence that hours before the media-rights tender was announced, a media report suggested the BCCI was wooing Amazon and Google to show interest in the rights. Industry watchers play down the possibility.
The tender document will remain available for sale till August 25.
