ICC media rights are clarified to the broadcasters but they want more of it￼
The International Cricket Council (ICC) on Friday released the clarification over the media rights issue but the immediate response from the Indian broadcaster and digital players is more confusion than clarity regarding the matter.
The International Cricket Council (ICC) on Friday released the clarification over the media rights issue but the immediate response from the Indian broadcaster and digital players is more confusion than clarity regarding the matter. ICC, on the other hand, seems confident that the process has been done smoothly.
A brief document consisting of 200 pages, answering 650 questions but fails to satisfy the responses on much-wanted precision on the multiplier of four and eight-year bids and how the ICC will be able to identify the bids on the second round.
Equally puzzling, the Indian industry executive said that ICC’s insistence on the submission of the final bids on August 22, opening them four days later.
This is an ITT (Invitation To Tender) clause that entails prior submission of the envelope mentioning the bid amount along with other documents of company credentials for assessment.
The Indian executives contend that if the bids are opened on August 26, why we should submit them before? Apart from that, the envelopes are being opened in front of the competing parties, and their value of them will not be made known to each other.
The ICC has not reacted but one is made to understand that the multiplier will decide the value of four and eight-year bids will remain disclosed, mainly to protect the principle of closed bidding.
“That is what the sealed bids are about,”said a source in the know.
“That is the key to the whole tender. Why would it have to be revealed? It is up to the parties to calculate the value and place bids.”
As for the four-day (from August 22 to 26) gap, it is also said that the time is required because ICC wants to ensure the guarantees at the place, due diligence is done, requirements are met and administratively everything is in place.
The ICC has also done the course of correction on the point why 20 percent premium in case of an event being shifted to the Indian time zone for more than four hours difference.
The point of satisfying everyone is that ICC has ensured that there are no liabilities or responsibilities for the broadcasters over withholding tax, something many parties have asked about.
It has been made clear that Indian firms can follow the law of land on the broadcast fee when an event is being held in India. The broadcaster says that there is still dark on how ICC will decide on the Round 1 winners who will proceed to Round 2 bidding, should there be one too.
The second round which there will be an e-auction if needed will be held on August 29. But the Indian companies insist that there should be more clarifications.
The ICC tender of media rights for the next cycle of eight years (2024-31) and is for the Indian Territory alone. The entire major broadcaster including Star, Sony, Viacom, Zee, Amazon, and FanCode, are vying. The ICC has unbundled the rights of men’s and women’s matches and is seeking separable bids.