Mumbai: The Board of Control for Cricket in India (BCCI) has extended the date to purchase the ‘Invitation to Tender’ (ITT) for media rights to the Indian Premier League (IPL) 2023-2027. The tender documents are now available for purchase until 20 May.

“Pursuant to requests from various interested parties, BCCI has now decided to further extend the date for purchasing the ITT documents,” said BCCI honorary secretary Jay Shah.

The governing council of the IPL had issued the ‘Invitation to Tender’ documents on 29 March that were available for purchase for a non-refundable ITT fee. Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid.

BCCI is expected to rake in at least Rs 32,890 crore by selling the TV and digital media rights for the IPL for the 2023-2027 seasons. This is more than double the value at which the rights were sold to Star India five years ago i.e., Rs 16,347.5 crore for the combined TV plus digital media rights. Notably, this time, BCCI has not offered an option for a composite bid to acquire both the TV and digital media rights for the IPL. This means that the TV broadcast rights will be sold separately at a base price of Rs 18,130 crore for five years and the digital broadcast rights will be sold separately at a base price of Rs 12,210 crore for five years.

As per media reports, Disney Star, Sony Pictures Networks India-Zee Entertainment Enterprises, Viacom18-Reliance Industries, Amazon, Alphabet (Google), Dream11 and Times Internet have bought the ITT document.

According to a report by Media Partners Asia, sports rights investment in India will grow at 10.1 per cent CAGR (compound annual growth rate) bolstered by demand for cricket properties, led by the IPL.