Days after the Supreme Court had passed an order to keep BCCI in chains and limiting its financial freedom, the latter has run into a road block which has hit its cash flowâ€”the media rights (TV and digital) of the Indian Premier League (IPL).
The Board had started the global tendering process for IPL media rights from 2016 in mid-September and was looking forward to selling it for a lucrative sum.
The bids were to opened in Mumbai on October 25, but on October 24 night, the BCCI, in a media advisory, said it couldn’t proceed as it was awaiting directions from the Lodha Committee. Also, it stated the panel had stated it would issue directions after the meeting among themselves.
Meanwhile, apologising to all its potential bidders and stakeholders who have travelled from across the country and the world to participate in the tendering process, the Board of Control for Cricket in India (BCCI) said that it would not be possible for them to go ahead with the IPL media rights bid process, scheduled for October 25.
In doing so, the BCCI put the ball in the court of the Justice RM Lodha Committee ad stated, it has not received any further directions from the panel, which has now been asked to ensure the tender process is undertaken in a professional and transparent manner with least inconvenience to all stakeholders.