ICC media rights tender – broadcasters end boycott threat: Smiles back on international cricket officials’ faces threat…
ICC media rights tender – broadcasters end boycott threat: Smiles are back on the faces of international cricket officials. Indian broadcasters call off ICC media rights tender boycott threat. InsideSport has spoken to some broadcasters and confirmed that they will participate in the tender. Disney Star, Sony Pictures Networks India (SPN), Viacom18, and Zee Entertainment Enterprises (ZEE) – are preparing their technical and financial bids. Technical bids will be submitted on August 22 Eligible parties will then be asked to submit financial bids on August 26: Follow Sports Business News Updates and ICC Media Tender Updates with InsideSpot.IN.
“ICC has made some desirable changes in the tender. It brings some clarity. Our board has now decided to participate in the tender. We will submit our technical bid on Monday.”A senior executive at the top broadcaster confirmed.
It is noteworthy that “Broadcasters face boycott threat” Cricket’s governing body has made changes to its bidding documents. Indian broadcasters have demanded that the ICC must be transparent in its bidding documents for better understanding and clarity in the process. The ICC initially refused but eventually agreed to make the change.
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ICC Media Rights: What has the ICC changed?
- The ICC has now set a base price of $1.44 billion for a 4-year cycle.
- According to TOI the ICC also revealed that the second round of auctions will be called if the difference between the highest bid and the 2nd highest bid is less than 10%.
- In that case, the second round of bidding will be e-auction.
- The ICC has proposed a 2.8 multiplier formula if a broadcaster wants to bid for an eight-year cycle.
- In that case, for eight years, the broadcaster would have to pay $4 billion, slightly more than double for four years.
- For example, if Star paid $2 billion for the first four and opted for a total of eight years, they would pay $5.6 billion.
- However, not every broadcaster is happy with the 2.8 multiplier formula. But they agreed to go ahead.
Why did the broadcasters boycott the mock auction? – For more than two months, there has been a tussle between some top broadcasters and the ICC. After the ICC did not heed, Viacom18, current rights holders Disney Star, Sony Sports and Zee Mock boycotted the auction.
- All four cricket broadcasters have written to the ICC saying that the current tender document does not encourage them to submit bids.
- Broadcasters said there was a complete lack of clarity about the process.
- Broadcasters have asked for some changes in the rules, particularly in the bid submission schedule.
- Under pressure, the ICC agreed.
- But the broadcasters were still not satisfied because of the lack of clarity which the ICC has now resolved.
“ICC officials have made a fuss about it. The answers to our questions made it even more confusing for us. All their answers are ambiguous. We asked them who is eligible for Stage 2? What are the criteria? They don’t have clear-cut answers. Our Board may decide to boycott the tender altogether. Unfortunately, we may have to take that course,” A very excited senior official of one of the top broadcasting houses InsideSport from India confirmed.
Follow Sports Business News Updates and ICC Media Tender Updates with InsideSpot.IN.