The Board of Management for Cricket in India (BCCI) has prolonged the date to buy the tender paperwork in relation to the Invitation to Tender for Media Rights to the Indian Premier League Seasons 2023-2027.
The Governing Council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) paperwork obtainable for cost of the non-refundable ITT charges on March 29, 2022.
Star India owns the present rights from 2018 to 2022 for which they’re paying the BCCI Rs 16,347.50 crore (USD 2.55 billion). Nevertheless, this quantity, in accordance with people who find themselves within the decision-making capability, is prone to be greater than double for the following cycle, due to the introduction of two new groups which had elevated the variety of matches from 60 to 74.
It has been reported that tech giants comparable to Google, Amazon, ZEE, Sony, and Reliance have entered the fray to bid on the profitable media rights for the preferred and richest T20 cricket league on the earth, the Indian Premier League.
BCCI Decides To Additional Lengthen The Date For Buying The ITT Paperwork Until Might 20
The BCCI of their official assertion has revealed that attributable to requests from many events, it has determined to additional lengthen the date for buying the ITT paperwork.
The assertion learn: “The Governing Council of the IPL had issued the ‘Invitation to Tender’ (“ITT”) paperwork obtainable on cost of the non-refundable ITT charges on March 29, 2022. The invitation to buy the ITT paperwork (“Invitation”), issued on March 29, 2022, is connected as Exhibit I (which additionally contains Annexure A).
Pursuant to requests from varied events, BCCI has now determined to additional lengthen the date for buying the ITT paperwork until Might 20, 2022. The process for buying the ITT paperwork is laid down in Exhibit I. All different phrases contained within the Exhibit I (together with the non-refundable ITT payment quantity) shall be relevant herein.
Any get together wishing to submit a bid is required to buy the ITT. Nevertheless, solely these satisfying the eligibility standards set out within the ITT and topic to the opposite phrases and situations set out therein, shall be eligible to bid. It’s clarified that merely buying this ITT doesn’t entitle any individual to bid.”
The detailed phrases and situations governing the tender course of together with eligibility necessities, course of for submissions of bids, proposed media rights packages, obligations, and so on. are contained within the ‘Invitation to Tender’ (“ITT”) which will probably be made obtainable on receipt of cost of a non-refundable payment of INR 25,00,000 (Rupees Twenty- 5 Lakhs Solely) plus any relevant Items and Companies Tax.
The ITT will probably be obtainable for buy until Might 10, 2022.
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