BCCI to hire KPMG for media rights bid process
The BCCI has hired accounting firm KPMG to advice them on the IPL media rights
The BCCI has hired accounting firm KPMG to advice them on the IPL media rights. It is learnt that this has been decided by Board secretary Jay Shah's office.
The BCCI, according to an official, expects around Rs 30,000 crore from media rights for the next five-year cycle from 2023-2027, while KPMG would guide them on tender process. The current IPL media rights with Star India, TV and digital, is worth Rs 16,347.50 crore. The current deal expires next year.
The IPL media rights tender is expected to be put out soon, although the BCCI at the moment is weighing up options about whether to go for e-auction or choose closed bid. The IPL governing council meeting on Sunday is set to make KPMG's name official.
In its press release after the IPL governing council meeting on September 28, the BCCI had stated: "The IPL Media Rights tender for the cycle 2023-2027 will be released immediately after the appointment of two new IPL teams which is scheduled to be announced on 25th October 2021."
The BCCI is also going to discuss the report submitted by a committee that had looked into CVC's IPL franchise ownership competence.
The committee has given the go-ahead to Irelia Company Pte. Ltd (CVC) to own Ahmedabad franchise, one of the two new franchises in the tournament from next year onwards. CVC was the second-highest bidder when two new IPL teams were auctioned in October, winning the rights to own 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 emerged that it has links with betting companies abroad. However, the committee has found no reason to scrap CVC.
CVC has two funds and while its European fund is linked to betting companies, where sports betting is legal, its Asian fund is said to be "clean". The company has invested into the IPL franchise ownership from its Asian fund.
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