A few months ago, BCCI stated that the IPL media rights tender will be announced soon after the declaration of two new teams of the IPL. It has been almost a month since the two new franchises are announced and still, we are yet to hear anything about the media rights tender. Meanwhile, it is being heard that the process may take some more time.
“The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021,” said BCCI in its statement made on September 28. According to Cricbuzz, there are three reasons why the tender is getting delayed.
One of the reasons is the uncertainty over the Gujarat franchise. Although CVC Capital owned this franchise, they have reportedly run into trouble and BCCI is yet to release the Letter of Intent. The second reason is BCCI is yet to decide on the mode of auction. It is planning to go either for an e-auction or for closed bidding.
The third reason is the Annual General Meeting (AGM) of BCCI will be held on December 4, when the new governing council of IPL will also be announced. The board might be thinking of announcing the media tender after the formation of the new GC.
These media rights will be for the 2023-27 cycle of the league. BCCI is expecting a revenue of Rs. 30000 crore with this tender. Currently, Star Network holds the media rights of IPL.