BCCI releases ITT for IPL media rights, e-auction to begin on June 12

The IPL governing council invites bids for media rights for a five-year period; any interested party wishing to submit a bid is required to purchase the Invitation to Tender.

The ITT will be available for purchase till May 10, while the e-auction will commence on June 12.   -  PTI

The Board of Control for Cricket in India (BCCI) on Tuesday released the Invitation to Tender for media rights for the Indian Premier League’s 2023-2027 cycle.

In a statement, the BCCI secretary Jay Shah said that the IPL governing council “invites bids from reputed entities” to acquire the media rights for the five-year term through a tender process.

The terms and conditions governing the tender process - including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations - are contained in the ‘Invitation to Tender’ (ITT), which will be made available on receipt of payment of non-refundable fee of ₹25,00,000 plus taxes. The ITT will be available for purchase till May 10, while the e-auction will commence on June 12.

“The tender document is now available for purchase. For the first time in IPL's history, the media rights will be e-auctioned. The e-auction will commence on June 12, 2022. I have no doubts that with this process there will not only be revenue maximisation, but also value maximisation, which will benefit Indian cricket immensely,” Shah said.

ALSO READ - BCCI mulls over Women's IPL with six teams in 2023

“I am pleased to announce that the BCCI has issued the tender document for IPL media rights for seasons 2023-2027. With two new teams, more matches, more engagement, more venues, we are looking to take Tata IPL to newer and greater heights.”

According to the statement issued by the Board, any interested party wishing to submit a bid is required to purchase the ITT.

“However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid,” the statement said.

The BCCI, however, reserves the right to cancel or amend the bidding process at any stage in any manner at its discretion.

For more updates, follow Sportstar on :