The International Cricket Council has finally decided to reduce the opaqueness regarding the sale of media rights after some extreme pressure put on them by the four big broadcasters. ICC had planned a mock auction where the broadcasters were supposed to understand the technicalities but they refused to attend as per a report in Times of India.
The report suggested that ICC has taken some big decisions regarding the sale of media rights starting by setting a benchmark price for all the ICC event matches which will be hosted in India for a four-year cycle rights and set at US$1.44. While the other pointer suggested that the cricket governing body will convey to the leading broadcasters that it will apply the unique ‘2.8 multiplier formula’ to the 8-year cycle which eventually will be calculated at $1.44b (base for four years). With their formula, it is going to be multiplied by 2.8 – $4b.
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“The difference between the winning bid and the second-highest bid be less than 10%, an e-auction will be called for," the report further suggested.
The four big broadcasters who recently fought hard during the IPL media rights – Viacom, Disney, Sony and Zee have already picked up the tender documents and were the ones who put constant pressure on the ICC to reduce the opaqueness.
There were a few factors including the absence of reserve price, and opaqueness regarding the conduct of Round 2 – e-auction made the leading broadcasters fumed as they informed ICC that they might back out from the process.
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“Considering now they (ICC) have to share if the difference between the winning bid and the second-highest bid is less than 10% for Round Two to go ahead, they will now have to announce all the bid numbers on 26th itself in front of the broadcasters," say those tracking developments to Times of India.
Meanwhile, the technical bids have to be submitted on August 22, while August 26 is the date which is finalized for closed bids by the ICC.
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