Firms are throwing a huge amount of Bids for the Indian T20 League Media Rights

For the last few days, the bidding war pertaining to the Indian T20 League Media Rights had been the main topic as several big firms showed interest in this tournament. However, as per some reports, companies like Amazon pulled out of the race as they did not want to invest further in the Indian market.

On Sunday (12 June), the final round of Bidding got held in Mumbai and as of now, Bids had gone above par for this tournament’s digital media rights. According to a report by InsideSport, the bid already crossed the INR 40000 crore mark and the primary fight had been between Disney Star vs Sony Network vs Reliance Viacom18.

There are four different packages for Bidding

It has been found that this year, firms need to bid for each type of package individually. During the time of bidding, incremental bids were allowed by the Indian Cricket Board. A giant media firm, ZEE was not willing to go for Package A as they bidded for Package B & C. As per reports, it was earlier known to many fans.

Both Package A & B is known for the Indian Subcontinent and Digital Indian Subcontinent broadcast. On the other hand, Package C is known for Non-exclusive events along with Package D for the rest of the world.

Meanwhile, ZEE is going to get partnered with Sony and that is the reason for which they pulled themselves out of Package A. It could play a spoilt sport in their merger if they contest against Sony in this Bidding process. All these Bids were evaluated by the legal and finance team of the Indian Cricket Board yesterday.

Currently, the Total bid just for Indian Sub-Continent Rights stands at close to 43,000 Crore. But, still, all the bidders are in the fray as per reports. Media Rights of this tournament are more than doubled from the current price, as of things standing now. Bidders are in contention for this Media Right race of the Indian Cricket Board for the next five-year cycle between 2023 to 2027.