BCCI media rights value crosses Rs44bn, e-auction to continue Wed

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MUMBAI: The Indian cricket board is looking at another massive pay day as the e-auction for BCCI cricket media rights failed to throw up a winner at the "end of day's play" by the allotted 6 pm deadline Tuesday. 

At the time the bidding window closed for the day, the bid value in the Global Consolidated Rights category stood at Rs 44.42 billion (Rs 4442 crores, approximately $680 million). 

The e-auction is now set to resume at 11 am Wednesday. 

It is worth noting that at 2 pm, the BCCI declared on its official Twitter handle that only three eligible bidders were in the running - Sony Pictures Network India, Star India and Reliance Jio. 

The other three entities that had picked up bid documents - Facebook, Google, and Yupp TV - were disqualified from after the the BCCI's legal team carried out technical and feasibility checks, ESPN reports.

Once the bidding began, the BCCI tweeted an update with an initial top bid of Rs 41.76 billion for the GCR category; subsequent higher bids were Rs 42.012 billion, Rs 42.44 billion, INR 43.03 billion and the last one was Rs 43.2825 billion, ESPN further reports. 

Key details of the E-Auction bidding process that officially began at 2 PM IST On Tuesday:

Companies originally in the running 
Six companies bought the bid documents: Star India / Hotstar, Sony Pictures Network India (TV broadcast), Facebook, Google, Reliance Jio and Yupp TV. 

Contract period for the rights
The period for the next media rights is between April 15, 2018 and March 31, 2023 and is for the home internationals for both men and women. It will also include domestic matches.

Categories for the bidding process
First, the Global Television Rights plus Rest of the World Digital Rights Package (GTVRD); second, digital rights for the Indian subcontinent (ID) only, and thirdly, the global consolidated rights (GCR) comprising the television rights for the Indian subcontinent, rest of the world and the worldwide digital rights. 

Per Match base price for each category
There were two different base prices or per-match-values (PMV): one for the 2018-19 season and then for the remaining four seasons. The reason for the split was due to the fact that ICC’s new Future Tours Programme (FTP) starts after the 2019 World Cup. 

For the 2018-19 season, the PMV for the GTVRD was Rs 350 million, Rs 80 million for ID and Rs 430 million for GCR. For the next four seasons, the PMV for the GTVRD package was Rs 330 million, Rs 70 million for ID and Rs 400 million for GCR.

Incremental bids
All three packages had different incremental bids. For GTVRD, it was Rs 200 million per bid, for ID it was Rs 50 million and for GCR it was Rs 250 million.

Number of international matches 
BCCI listed a total of 102 matches which would be part of ICC’s FTP from June, 2018 to March, 2023. During this period, India will play 22 Tests, 45 ODIs and 35 T20Is against nine teams barring Pakistan and Ireland.

The FTP for all India matches being played in this rights window has 18 matches scheduled in Year One, 26 in Year Two, 14 in Year Three, 22 each in Years Four & Five.
India are expected to play a total of 24 out of the 37 matches scheduled between 2019 and 2023 against Australia, England and South Africa. The key and highlight series will be the five-Test series against England in 2021, four Test match series against Australia in 2020/21 and four Tests versus South Africa 2021/22.

MJunction - a joint venture of Steel Authority of India Ltd (SAIL) and Tata Steel - managed the e-auction.

Star already owns Indian cricket’s most coveted media property IPL having paid a record Rs 163.47 billion for a consolidated global bid that includes TV as well as digital rights.

Facebook had placed a whopping bid of Rs 39 billion ($600 million) for exclusive digital rights of IPL but lost out to Star.