ICC Media Rights Auction – ICC Media Rights Tender: The bid submission deadline for ICC Media Rights is just 5 weeks away. ICC has asked the potential bidders to submit their BIDS via SEALED envelope by August 22. But all top Indian broadcasters have raised RED-FLAG over the bidding process. According to few bidders, tender process lacks transparency: Follow ICC MEDIA Rights Auction LIVE Updates with InsideSport.IN
“BCCI showed how to conduct tender. The IPL Tendering was so transparent. Vis a vis ICC is still following the old school, the process lacks transparency. They are expecting billion of dollars but still want to follow the old rules”, said representative of one of the potential broadcaster to InsideSport.
ICC Media Rights Tender Process
- Bids Submission: The bids must be submitted on August 22 via sealed envelope.
- Bids Opening: Bids will be opened on August 26 in Dubai (last time they were opened in London).
- ICC will then individually negotiate with the bidders
- According to the ICC, the successful bidders will be announced by early September.
- Bidders have raised FLAG over closed bid process as they feel it lacks transparency.
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ICC Media Rights Tender – Why the bidders are upset? Now according to a report by ET, Sony Sports Network have shot a letter to ICC on the LACK of TRANSPARENCY issue.
The news paper has reported that most of the potential bidders have are unhappy on four issues.
- Issue 1: use of sealed envelope bidding rather than e-auction
- Issue 2: three-week gap between bid submission and announcement of winner
- Issue 3: lack of clarity on the multiplier formula for four-year rights versus eightyear rights
- Issue 4: demand for a 5% upfront deposit
ICC Media Rights Tender: The ICC launched the 2024-31 cycle tender for the India territory on June 20. The tender is being conducted for both four and eight-years periods.
Interested parties have to mandatorily bid for four years with the option of placing a claim for eight years as well. One can bid for the television rights and digital rights separately as well as place a composite bid for both the rights.
The bids must be submitted on August 22 and they will be opened on August 26 in Dubai. The ICC said the successful bidders will be announced by early September. All top four broadcasters in the country i.e DisneyStar, SPN, Zee Entertainment Enterprises (ZEE), and Viacom18 are expected to bid for the rights. According to information available with InsideSport, all 4 have bought the tender docuements.
Follow ICC MEDIA Rights Auction LIVE Updates with InsideSport.IN
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