The Board of Control for Cricket in India (BCCI) is all set to issue the media rights tender of the Indian Premier League (IPL) for the 2023-2027 cycle as early as the coming week.
The IPL e-auction will be completed in two months, according to BCCI Secretary, Jay Shah, who also stated that the valuation will reflect the league’s growth. The BCCI is also considering different bid-awarding models, according to the Indian cricket governing body’s secretary.
For the second time, the BCCI will conduct an e-auction to sell media rights.
According to a report, the BCCI was planning to issue a tender for the IPL media rights in February, with the e-auction taking place 45 days after the tender was issued.
The BCCI believes that the addition of two new teams, along with additional matches and regional interest, will significantly increase the value of what is already the richest T20 tournament in the world.
According to industry observers, the value of the cash-rich league for the next five-year rights cycle will most likely skyrocket because the competitive intensity will be higher than in a closed bidding process.
For its previous IPL television and digital rights, the BCCI received INR 16,347.5 crore (US$ 2.55 billion) from a single bidder, Star India, who made a consolidated offer for rights worldwide.