BCCI Announces The Successful Bidders For Acquiring The Media Rights For The Indian Premier League Seasons 2023-2027
The Governing Council of the TATA Indian Premier League (“ TATA IPL ”) had issued an Invitation to Tender (“ ITT ”) for Media Rights to the Indian Premier League Seasons 2023 – 2027. As part of the process, an e-auction was conducted from June 12, 2022, to June 14, 2022, wherein all eligible bidders were permitted to participate to determine the successful bidders for the Media Rights. The successful bidders will acquire the Media Rights from IPL Season 2023 to IPL Season 2027 for a cumulative figure of INR 48,390.32 crores , subject to execution of definitive documentation and completion of formalities as required by BCCI, and other obligations specified in the ITT being completed. Argus Partners was the legal advisor to BCCI and assisted in the entire tender process. KPMG was the advisor to BCCI. Mjunction Services Limited provided the platform for the smooth conduct of the e-auction. BCCI President, Mr Sourav Ganguly said: "The game has...