The International Cricket Council (ICC) started the process of selling the media rights tender on 20th June. The tender includes rights for 711 games at its global events in the eight-year cycle starting 2024.
The auction of the Indian media rights will take place separately from global media rights. This is because India is the largest market for cricket.
However, the Indian broadcasters i.e the potential buyers are not happy with the bidding process.
- What is the process of ICC Media Rights auction? Is it similar to this year's IPL Media Rights auction?
The bidding process is different from that of BCCI's media rights auction. Unlike BCCI's e-auction which went on for three days, ICC will be following the conventional sealed bid process.
The broadcasters or channels in contention will have to submit a probable bid for the first four years of the men's event. On the other hand, the option for submitting bids for an eight-year partnership is also in place.
Earlier, BCCI which held an e-auction across three days registered a record bid of Rs 48,390 crore.
- When will the auction begin?
Clearing the air around all the confusion surrounding the bids, the ICC on June 13, 2022, sent out a clarification that states that the bidding process for the 2024 cycle will begin in August.
- What are the packages?
The ICC has kept the process linear with three specific packages for both men and women.
- Package A - TV Rights
- Package B - Digital Rights
- Package C - Combined TV and Digital Rights in both categories
- Why are the Indian broadcasters unhappy with ICC's bidding process?
The top four contenders in the race for media rights, Zee Entertainment, Sony Pictures Network India, Viacom18, and DisneyStar have raised concerns about the 'lack of transparency in the upcoming auction. They have raised concerns about the process of sealed envelope bidding instead of an e-auction.
All four companies have criticized:
- The long gap of three weeks between the submission of bids and the announcement of the winner.
- Unclear multiplier formula for calculation of four-year rights and eight-year rights.
- The demand for a reserve deposit of 5 per cent.
- Is there any chance that an e-auction similar to that of IPL to take place?
The ICC is willing to go for e-auction for the sale of media rights if the bidders quote an identical sum of money in the opening round.