MUMBAI: After over five months of delays, the Board of Control for Cricket in India Tuesday announced the release of the Invitation to Tender (ITT) for media rights to the Indian Premier League for seasons 2023-2027.
The detailed terms and conditions governing the tender process, including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations, etc. are contained in the ITT, which will be made available on receipt of payment of non-refundable fee of Rs 25,00,000 + 4,50,000 (GST) – total Rs 29,50,000 (for Indian companies), or $33,000 (for foreign entities).
The ITT will be available for purchase till May 10.
While making its announcement, the BCCI clarified that the “ITT must be purchased by the entity that is desiring to bid”. It was further clarified that “only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid”.
Importantly, the Indian cricket board further clarified that it reserved the right to “cancel or amend the bidding process at any stage in any manner at its discretion”.
