The rights will operate for a period of five years
The Supreme Court on Friday sought a detailed response from the Board of Control for Cricket in India (BCCI) over a plea seeking e-auction of media rights for the Indian Premier League (IPL) matches. The auction process for IPL media rights is slated to be held from August 17 and the rights would operate for a period of five years.
The three-member bench, headed by justice Dipak Misra, has given a two-week time to the BCCI to reply as to why broadcasting rights of IPL matches are not being sold through e-auctioning. On July 11, Bhartiya Janata Party (BJP) leader Subramanian Swamy moved to the apex court, seeking e-auction of media rights for the matches of the lucrative T20 league.
At present, Sony Pictures Network India (SPNI) is holding the rights of the IPL. However, their deal is going to an end after the event’s next edition. In 2008, the Singapore-based World Sports Group bagged the IPL television rights for a 10-year period with a USD 918 million bid.
It simultaneously signed a deal with Multi Screen Media(MSM) that Sony would be the official broadcaster. The contract was recast before IPL 2009, with MSM agreeing to pay USD1.63 billion for nine years.