Picture Credit: Twitter/BCCI
The Indian Premier League (IPL) has been a money-making machine for the Board of Control of Cricket in India (BCCI) since its inception in 2008. The concept was an instant success and India's win in the T20 World Cup 2007 definitely had a huge role to play in it.
In the latest announcement, the apex cricket board announced the release of an invitation for the media rights of the Indian Premier League Seasons 2023-2027, through a tender process.
The BCCI Secretary Jay Shah posted a tweet and said, "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 focussed on the advantage of a 10-team tournament to the interested parties. With the teams like Gujarat and Lucknow being added to the tournament, the IPL has expanded its presence in major belts of the nation. The 10-team edition was last played in 2011, where the likes of Kochi Tuskers and Pune Warriors were also the participants.
It is being also said that the media giants like Zee-Sony and Reliance Viacom 18 are the probable applicants, which are expected to heat up the competition. The Sony Sports Network, which has been the prime broadcaster of some of the international series, is said to be in talks with Amazon Prime Video to jointly bid for the IPL 2023-27 media rights. Currently, the Star Sports Network has the media rights until 2022 and they too will be keen on retaining the rights.
For the first time in the Indian Premier League history, the e-auction will take place from June 12th, 2022. The Invitation to Tender (ITT) will be made available on receipt of payment of a non-refundable fee of Rs 25 lakh excluding GST and will be available for purchase until May 10.
In the 2022 edition, the Tata Group became the title sponsor to have a bite on the rising popularity of the tournament and promote brands of the Tata Group and have a presence in almost all the households.