BCCI set for windfall as bid war begins

The BCCI is set for another massive windfall as Star, Sony and Jio are engaged in a bidding war for the Global Consolidated Media Rights (GCR) for the 2018-2023 cycle of India's home bilateral series.

After the end of the opening day of the first-ever e-auction, its valuation is at Rs 4,442 crore, which is already 15% more than Star TV's erstwhile record bid of Rs 3,851 crore ($750 million then) in 2012.

The GCR comprises worldwide TV broadcast rights as well as digital rights for 102 matches (across three formats) that India will play at home in the next five years.

The first top GCR bid was Rs 4,176 crore followed by 25 crore incremental bids. Some of the top bids were Rs 4,201.20 crore, Rs 4,244 crore, Rs 4,303 crore and Rs 4,328.25 crore.

The e-auction will start at 11 am on Wednesday and as per norms, no one except the bidders know who has the top bid. All the three are bidding through a unique log-in ID that is provided to them.

Only three companies - Star, Sony and Jio - submitted the technical bids and it is a foregone conclusion that the likes of Facebook, Google and YuppTV may have entered into a consortium with the primary bidders.

"Since Star has digital platform HotStar, they are unlikely to partner Facebook or Google. But you never know if Sony has entered into a consortium with either of the two. Google has Youtube. But again it is being evident that cricket sells in India and despite not so favourable publicity at times, Indian cricket still rakes in the moolah," a senior BCCI official told PTI on Tuesday.

"However, it is now proved that any bidder will now go for GCR," he added.