The Board of Cricket Control in India (BCCI) is set to invite bids for the new title sponsors, event managers and broadcasting rights. At the time of inception, the IPL governing council signed a 10-year deal with various entities (barring title sponsorships). But, with the end of the ongoing 10th edition, all the existing contracts are set to expire.
The new contracts shall only be awarded after a systematic bidding process. The Governing Council will meet in Delhi on May 5 to make a final decision and get the process under way. The new procedure would directly mean that the current right holders will have to compete with interested parties for renewal of contracts.
There will be some changes in the contract lengths as well. It is being understood that the media rights, which are currently held by Sony group, would be sold for five years period instead of 10 years. Sony Group has expressed its reservation regarding this entire matter but the decision has received support from the current set of office-bearers.
It is also being suggested by the BCCI members that the process should be initiated and handled by the marketing committee of the BCCI. Sony Max has been broadcasting the IPL since its inaugural season in 2008. With the introduction of Sony Six, currently, the matches is being aired live on two channels.
A search for the new title sponsor will also begin as the deal with Vivo ends this year. The mobile firm from China came on board for a two-year contract after Pepsi pulled out after IPL 8. A decision on the new regulations and benchmarks for the new sponsor will be taken by the cricketing board. The duration of the new deal will also stay for a length of five years.
Another huge change that may occur is event management deal with International Management Group (IMG) also ends this year. The group is very well known and respected for the conceptualisation and execution of the IPL. The benchmark created by the IMG is followed several T20 leagues currently.
The IMG has been with the IPL for all 10 years but the new norms would mean it will have to bid for the rights this time around. Seeing the opportunities opening up finally, several new competitors have shown interest and grabbing the lucrative pie which has made people anticipate a fierce bidding battles.