The Board of Control for Cricket in India (BCCI) has made some alternative changes to the already existing clauses of Indian Premier League’s media rights. These modifications are, more or less, based on the IPL auction clauses. And, the decisions have been taken before the long day on 12th of June. It will be for the first time in the history of IPL, that the media rights will be auctioned online i.e., an e-auction is going to take place. The biddings will be done to earn the rights of the Indian Premier League for 2024-2027. Although, there might be a delay of several days to announce the winning bid after the completion of the e-auction. Now let’s get into the details as BCCI modifies a few clauses of IPL media rights.
BCCI Modifies A Few Clauses Of IPL Media Rights:
The previous clause stated that the increments would have to be paid if one package chooses to implement the right, which is to challenge the winner of other packages. For instance, the winner of Package A chooses to challenge the winner of Package B. Simultaneously, Package B winner chooses to challenge the winner of Package C, thus entertaining their rights. Hitherto, according to BCCI’s clause, the Package A winner will have the benefit of choice to offer a rights fee. The fee should inflate five percent than the highest bidding price for Package B. But, as the clauses have been changed now, BCCI has set the minimum increment bid amount to Rs 1 Crore.
As the minimum amount for increment is set to Rs 1 Crore, with every consecutive increment, the value of the bid will increase by Rs 410 Crore. This is if challenged to Package B. Also, if any Package’s winner wants to challenge Package C winner, a Rs 50 Lakh increment will have to be made.
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BCCI has also reorientated the jurisdiction of Package C. Which was, at the outset, introduced for the 18 non-exclusive games of the IPL seasons which will take place in the years between 2024-2027. Not to mention, it was previously initiated for the Indian sub-continent. However, talking about the affairs after the altercations, BCCI has limited Package C only to the Indian region.
Participation in the bidding during the e-auction can be undertaken by broadcasters, internet operators or mobile companies. However, these should be from the fundamental areas of India, US, UK, Australia, New Zealand, South Africa, UAE and other Caribbean countries. Also, the bidders shouldn’t be from a marketing agency.
After the variation in the clauses, there will be some toil for the Package C holders, considering the Right to broadcast all the IPL activities. In accordance with BCCI’s specified clause, the rights holders of Package C are not entitled to broadcast the IPL auction. In between several changes, the base price hasn’t been varied and is till Rs 15 Crore.
