E-Auction For The Broadcast Of India’s Home Games That Attracting Massive Bids
A big payday is awaiting BCCI during the sale of the broadcast rights on Wednesday.
The top bid for the television and a digital rights of India’s home season for a five-year period between the years 2018 and 2023 that stands at INR 4442 Crores at the end of the proceedings on Day 1st of the e-auction, on Tuesday, April 3rd. The highest bid that is in the Global Consolidating Rights category and has already surpassed the winning bid of the previous cycle through the 15 percent.
The bidding process that is beginning at 2 PM IST see the three packages of rights on the sale. The Global Television and Rest of the World Digital Rights, Indian Subcontinent Digital Rights, and the Global Consolidated Rights.
The Indian cricket board tweeting a regular update with the initial top bid of INR 4176 Crores for the GCR package, but the subsequent ones were INR 4201.20 Crores, INR 4244 Crores. According to the reports, proposals with a valuation of Rs. 4303 crores, 4328.25 crores and INR 4442 crores rounding off the day’s process.
The participants get an hour to raise their bid, after every round, until 6 PM. The auction that continues till the participants are the drop out of bidding further shall complete on Wednesday, April 4th.
The number of participants in the online bidding process for the Global Consolidating Rights package was brought down from the six to three on the Sony Pictures Network India, Star India Pvt Ltd and Reliance Jio after the BCCI’s legal team carrying out the technical and feasibility checks ahead of the e-auction.
The others who were standing to eliminate from contesting for the GCR package lost out for not having both the television as well as digital media presence at the time of the BCCI inspection.
The Star India’s previous bid in the year 2012 for a similar five-year period until March 31st, 2018 was INR 3851 Crores for a total of 96 matches across the formats, and including internet as well as free rights. Sony, then known as the Multi-Screen Media is narrowly missing out with a bid of INR 3700 Crores.
In September 2017, Star India won the worldwide IPL television and a digital right for the five-year period of the years 2018 to 22 with a bid of INR 16,347.5 Crores.
So, these are the points to describing on the E-auction for the broadcast of India’s home games that attracting large bids.
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