By Monday evening, round one of the International Cricket Council (ICC)’s media rights process for the all-important India market would be done. The leading broadcasters would have submitted their technical bids (determining eligibility). All those who were in the fray for the Indian Premier League (IPL) e-auction— Viacom 18, Disney Star, Sony and Zee are expected to compete again.
File Photo of ICC logo (REUTERS)
Focus will also be on Amazon to see if they enter the expensive Indian cricket streaming arena or drop out like they did ahead of the IPL bidding. Its cricket interest is currently restricted to its holding rights for New Zealand cricket in India. The US streaming giants hold rights for Thursday night football in NFL—the world’s biggest sports league. However, the way ICC’s tender is structured, existing TV rights holders appear better placed with the presence of a consolidated bid (TV + digital).
Unlike BCCI’s IPL strategy, cricket’s global body has chosen to go for a closed bidding. “IPL is a compelling property for its unique India player presence—everyday proposition for a concentrated window of two-and-a-half months. Here, the marquee India matches carry the burden of the entire competition and there can be only so many of them (52 out of 362, 8 years) in an ICC event,” an industry executive said. “But then, we are talking World Cups. Any India match attracts a premium, almost three times an IPL match or a regular India bilateral.”
There has been exchange of mails between the broadcasters and ICC on how much of the tender should the sports body break down for the bidders. The financial bids will be submitted and evaluated on Friday. The need for e-auction would arise if the difference between the two leading bids is within 10%. Any broadcaster wanting the rights for eight years (2024-31) will have to pay a premium of at least 2.8 times of the leading four-year bid (2024-27).
Disney Star’s current deal (2016-23) is approximately worth $2 billion (approx $1.5 bn from India market)—it was for a six-event rights cycle. ICC now has a world event every year—four T20 World Cups, two ODI World Cups and two Champions Trophy editions. There are also four World Test Championship finals and U-19 World Cups each, though they will account for only a fraction of the rights proceeds.
FOUR YEARS OR EIGHT
“The key is to let the market determine the outcome and we will respond to that. As opposed to the previous process, there is a degree of option in there,” ICC Chairman Greg Barclay had said when the bids were first announced two months ago. “The bidders can segment it across properties, across territories and have a look at what might be best for them.”
ICC is keen to go for four-year deals, but a number of its smaller member boards were keen to retain the eight-year cycle.
Any bidding strategy cuts both ways. The first four-year cycle is not particularly attractive with only one event scheduled in India (2026 T20 WC). Also, not all matches of the 2024 T20 WC in the US will be played in a favourable Indian time zone. There are also many unknowns around the 2025 Champions Trophy in Pakistan. But in the next cycle (2028-31), two world events are scheduled in India (2029 Champions Trophy and 2031 ODI WC). “Anyone who decides to go for an eight-year bid will have to take a call on whether ODI cricket will remain as relevant many years from today,” a key industry player said.
OTHER MARKETS, WOMEN’S CRICKET
The media rights process for other markets will begin after the India rights winners are announced. It will include England and Australia who host an ICC event each in the second half of the eight-year rights cycle,.
ICC is also inviting bids for women’s cricket for the first time—103 matches in a four-year rights cycle (2024-27) across TV, digital and consolidated (TV + digital) will be at play.
Rasesh Mandani loves a straight drive. He has been covering cricket, the governance and business side of sport for close to two decades. He writes and video blogs for HT.
Live Score
Cricket Teams
Cricket Players
