The detailed terms and conditions governing the tender process, including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations, etc. will be the part of the tender document. However, the document will be made available only after receipt of payment of a non-refundable fee of ₹25 lakh and (plus ₹4.5 lakh in GST).
The last date to purchase the tender document is May 10. The auction will likely be in June.
Announcing the release of the ITT, Jay Shah, secretary, BCCI, tweeted, “I’m pleased to announce that @BCCI has issued the tender document for @IPL media rights for seasons 2023-27. With 2 new teams, more matches, more engagement, more venues, we are looking to take #TataIPL to newer and greater heights.”
He also wrote that the BCCI will be conducting an e-auction for the first time for the IPL media rights.
BCCI has clarified that only those parties, satisfying the eligibility criteria set out in the ITT, and subject to the other terms and conditions, will be eligible to bid. Also, it said that merely purchasing the ITT does not entitle any person to bid.
As the BCCI released the document post banking hours, most of the interested parties are likely to pay the Invitation to Tender fee on Wednesday.
“We will take the approvals and make the payments tomorrow,” one senior executive of a large broadcast network said, while declining to comment on packages his company would bid on as the details are yet to be out. ET had earlier reported that the BCCI had roped in KPMG as the advisor for the auction process. Several experts told ET that the combined value of the rights for the next five-year cycle will be close to Rs 50,000 crore, up from the current rights holder’s bid of Rs 16,347.5 crore for 2018-2022.
