BCCI hired the accounting firm KPMG to advise them on IPL’s media rights. We learn that this was decided by the office of the Secretary of the Council, Jay Shah.
The BCCI, according to an official, expects around Rs 30,000 crore in media rights for the next five-year cycle from 2023 to 2027, while KPMG would guide them through the tendering process. The current IPL media rights with Star India, TV and Digital, are worth Rs 16,347.50 crore. The current agreement expires next year.
The tender for IPL’s media rights is expected to be launched shortly, although BCCI is currently examining options as to whether to go through an online auction or go for a gated bid. The IPL board meeting on Sunday is expected to formalize the name of KPMG.
In its press release following the IPL board meeting on September 28, the BCCI said: October 25, 2021.
HVAC to stay
The BCCI will also discuss the report submitted by a committee that looked into the IPL franchise ownership jurisdiction of CVC. The Indian Express understands that the committee has given the green light to Irelia Company Pte. Ltd (CVC) to own the Ahmedabad franchise, one of the tournament’s two new franchises starting next year. CVC was the second bidder when two new IPL teams were auctioned off in October, winning the ownership rights to the Ahmedabad franchise for Rs 5,625 crore. Sanjiv Goenka’s RPSG group bagged the Lucknow franchise for Rs 7,090 crore.
A day after CVC was announced as the successful bidder for the Ahmedabad franchise, reports revealed that it had ties to overseas betting companies. However, the committee found no reason to remove the CVC.
CVC has two funds and although its European fund is linked to betting companies, where sports betting is legal, its Asian fund is said to be âcleanâ. The company has invested in the ownership of the IPL franchise from its Asian fund.