The Board of Control for Cricket in India (BCCI) is reportedly considering delaying the release of a tender document to sell media rights for the Indian cricket team’s bilateral series. The BCCI wants to wait and observe the outcome of the proposed merger between Zee and Sony before proceeding, according to industry insiders who wished to remain anonymous. Additionally, there is uncertainty regarding the duration of the rights and whether they will cover a four-year period from 2023 to 2027 or a different timeframe.
Zee Entertainment Enterprises is currently in discussions with creditors to alleviate debts in order to complete its merger with Sony Pictures Networks India. This merger would result in the formation of a $10 billion media powerhouse in India. Sony Corp. Chairman and CEO, Kenichiro Yoshida, recently stated that he anticipates the merger to be finalized in the first half of the fiscal year ending March 31.
When questioned, the BCCI did not provide a response. It is worth noting that Sony previously broadcasted the Indian Premier League (IPL) until 2017, when the rights were acquired by Star India (now Disney Star). Sony Sports Network also possesses broadcasting rights for matches in England, Pakistan, and Sri Lanka. Disney Star holds the rights for broadcasting and streaming matches on TV and their digital platform for all International Cricket Council (ICC) events, including the Asia Cup up until this year.
In 2018, Star Sports India outbid Reliance and Sony to secure the BCCI media rights, valued at Rs 6138.1 crore, covering the period from 2018 to 2023. The BCCI aims to issue the tender before this year’s Asia Cup, which is scheduled for September, but they want to ensure the completion of the Zee-Sony merger first. Furthermore, the BCCI is deliberating on how to package the rights to maximize their value, especially after the recent split distribution of IPL rights between Reliance and Disney Star, which garnered a total of Rs 48,390 crore at auction.
According to experts, the unbundling of television broadcasting and digital rights for Indian bilateral series could potentially be valued at over Rs 15,000 crore ($2 billion) for the next four or five years. However, the specific formats of matches (Tests, ODIs, T20Is) in the future fixtures will ultimately determine the actual valuation.
In addition, BCCI is still contemplating whether to opt for an e-auction or explore other methods for selling the rights. They are also considering the separation of men’s and women’s rights following the introduction of the Women’s Premier League, which holds significant commercial value.
Recent media reports suggest that some industry experts are skeptical about the BCCI’s ability to secure high bids for bilateral rights, as broadcasters have previously failed to recoup their investments for each match. As per the ICC’s Future Tours Programme (FTP), the Indian men’s cricket team is scheduled to play 38 tests, 42 one-day internationals, and 61 T20 internationals between 2023 and 2027.
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Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
