Delay in BCCI Media Rights
The Indian Cricket Board’s (BCCI) media rights are likely to be delayed, as broadcasters have requested more time. BCCI had appointed Ernst & Young (EY) as consultants and were hoping to finalise the agreement before the Asia Cup. However, the process is now set to be extended.
Reason for Postponement
The primary cause of the postponement is the upcoming merger between Sony and Zee. The deal was intended to be concluded by December 2022, but legal proceedings have complicated the situation. While there are still rumours of a potential cancellation, both parties remain keen to complete it.
Joint Bid Expected
Should the merger go through, it is anticipated that a joint bid from Sony-Zee will be put forward. This could create a competitive atmosphere for the rights, with Disney Star and Viacom18 also likely to be involved. The tender is expected to be issued in July or even August, with the aim of ensuring the highest value.
Conclusion
BCCI secretary Jay Shah announced earlier this week that the tender will be released soon, with plans to close the media rights process by the end of August. With the potential for a joint bid from Sony and Zee, and competition from other major players, the BCCI media rights process could be set to be an exciting one.