Mumbai: IPL grabs attention not only in the form of its very purpose but also in other sources where it is poised to make it predominantly lucrative.
The Supreme Court had passed an order to keep BCCI within the brackets, curtailing its rights to decide on financial aspects. Subsequently, BCCI has run into a road block which has hit its funds flow in the while moving the coins to grant the Television and Digital media rights of the Indian Premier League – IPL.
The Board was all set for a huge take and began the global tendering process for the media rights from the mid of September and kept its cash lockers open for a grand monetary flow. The bids were to open on October 25 in Mumbai but at a point of late hours in the evening of October 24, BCCI, in a media advisory said it is constrained to proceed due to the fact that the Board hadn’t received directions from the Lodha Committee. The panel is expected to issue directions after a meeting between its members.
Consequently, the BCCI was put to the state of apologising to all its potential bidders and stakeholders from many places across the country and gathered in Mumbai to participate in the tender process. The official announcement was thus made that it would not be possible for them to go ahead with the IPL media rights bid process scheduled for October 25.
Obviously now, the next move depends on Lodha Committee’s decision. BCCI is yet to be directed by the Panel at any moment of time as the tender process is on the brink to begin. The Panel has directed the Board to ensure the bidding process is governed in a professional and transparent manner to make it convenient in every aspect for the stakeholders.