Unlike the recently concluded Indian Premier League (IPL) media rights auctions held by Cricket Board of Control in India (BCCI), ICC has not retained any reserve price and will invite bidders by the end of August.
“We are looking into the third week of August to apply and we are setting ourselves a schedule for the first week of September to review applications and formulate our recommendations and submit them to our Board of Directors for final approval. This is a small process, and we would like to try to complete it somewhere by the second week of September,” he said. Anurag Dahiyacommercial director of ICC.
In terms of expectations, he said that ICC is very pleased with the packages it has brought to the market.
“This is by far the best calendar we will ever bring to the market, where the T20 World Cups and ODI World Cups are held very well regularly, and the Champions Trophy returns in the case of men’s events. For older women, it’s more than ever before a calendar of annual events,” he said.
Sunil Manoharan, ICC vice president of media rights, said that what the ICC is bringing to market is a very different set of rights. “…This is the World Cup, national pride, and no one else does that in cricket. This is the only package of its kind, it is unique and very premium.”
Alluding to the IPL auction, which brought BCCI Rs 48,390 crore over the next five years, up 200% from the previous cycle, Manoharan said the ICC should not say anything about its expectations from the auction.
“You’ve seen other premium products perform in cricket, so that’s a good indicator for everyone.”
Media rights for the next cycle of ICC events starting in 2024 will include up to six TV-only, digital-only or a combination of both packages. For the first time, men’s and women’s rights will be sold separately, and potential partners can compete in 16 men’s events (over eight years old) and six women’s events (over four years old), for a total of 362 and 103 matches respectively.
As ET previously reported, the ICC has also decided to allow interested parties to apply for the first four years of men’s competition, giving them the opportunity to apply for an eight-year partnership.
Explaining the rights structure, Jeff Allardis, chief executive of ICC, said that ICC has traditionally entered into eight-year deals because partners enjoy the confidence it provides them over the long term. “Many market participants are reporting that four years may be preferable, although in recent conversations others have been looking for a longer term,” Allardis said. “Our main goal is to structure the package in such a way that it tests the market and empowers potential bidders. As for the division of women’s rights, I think this is a natural progress for us. Women’s tournaments have become more popular over the past five years and we’re looking to find out who will help us accelerate the growth of women’s sports with promotions, and we want to have a separate arrangement for that and for our men. rights. So, there are several reasons why we will be structuring differently.”
After opting out of the e-auction, Dahiya explained: “We invite closed bids and this is the methodology we have used in the past. This time we have a complex set of rights. It is not just a single territory, one duration, one or more packages of rights. As a result, we get several different combinations, and it is too difficult to solve all this through an electronic auction. That’s why we decided to stay with the closed bidding methodology. Closed bids are known to work very well in various auctions because you end up motivating bidders to give their best.”
Interestingly, the ICC has also not retained a base or reserve price for bids.
“We didn’t set any base price because you would put in a base price if you weren’t sure where you might end up,” Dahia said. “We don’t feel the need to set a larger base price. We want to keep a hands-off approach in terms of people coming to the rooms. We don’t want to fix anything in their minds.”
After completing the process in India, ICC wants to expand to other markets including the UK, US, South Africa and then Australia and New Zealand this year.