What’s the story?
In what would be music to the years of the controversy-ridden BCCI, the Indian Premier League could fetch the board a whopping amount after the end of the this year’s season.
The broadcast rights and digital rights of the cash-rich league will be up for grabs once again for the 2018 season and as per reports, it could fetch the board a massive amount which could well be within Rs 18,000-30,000 crores.
However, there is no stipulated time frame and the newly appointed custodians of the BCCI could well take their time to consider all the options before they take the final call.
“The former BCCI bosses were in terrible hurry to do the IPL deal, which was rightly stopped by the Lodha Committee as the office-bearers weren’t eligible to do so. But the current working style of BCCI is to do everything without rushing. It’s, after all, the most important process for BCCI,” a source was as quoted by the Times of India.
The ongoing deal with Sony fetched the Board a rough amount of around Rs 6,700 crore across the ten year period. However, the League has grown exponentially ever since and the popularity has gone through the roof, and thus the amount which could be netted by the Board would also see a substantial hike.
Also, the valuation would not have any effect of the recent demonetisation process and Brand IPL has largely remained isolated from the turmoil in the BCCI.
According to the new guidelines, the bids would be accepted until October 25, following which the TC rights would be awarded till 2027. Also, the digital rights would be given till 2022.
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Currently, the broadcasting rights are with Sony Pictures Network India (SPNI). The 10-year deal expires at the end of the 2017 season and the next deal would be also stretch to 10-years and would expire in 2027.
The digital rights are with Star India according to which there is a five-minute delay after the TV transmission. Also, Star has the overseas rights except for the United Kingdom and the United States.
The BCCI has been in a lot of turmoil and their finances have faced the brunt owing to the Lodha Panel recommendations. Also, the IPL forever remains under the scanner owing to the dizzying amounts of money involved, but these broadcasting rights could well be a shot in the arm for the Board and would also provide much-needed accountability.