No resolution yet on BCB media rights
The Bangladesh Cricket Board (BCB) yesterday opened bid documents from the only two companies who had submitted the international call for proposals for the worldwide media rights.
A total of four companies including Ten Sports and Sony had originally purchased the tender documents but only Sporty Solutionz, an Indian sports rights management company, and the local Virgo Media Limited (Channel-9) submitted their tenders by the deadline.
“Sporty Solutionz offered the highest $ 15 million while Virgo Media Limited offered $ 6 million,” said BCB media committee chairman Jalal Yunus before adding that there were still a number of complications. “Sporty Solutionz did not comply with all the clauses, especially a bank guarantee of $2.5m as was stipulated in the tender notice. Virgo Media Limited complied with the clauses. After examining the tenders we declared Sporty Solutionz as non-responsive,” said Yunus, following the board meeting which took place yesterday to discuss the tender issue.
“Virgo Media Limited is now the only responsive company and as such the board has decided to engage in discussions with the company about raising their offer to the highest benchmark ($ 15 million). The board will meet again if the company agrees, otherwise we will pursue legal opinion about re-bidding,” added Yunus.
It should be mentioned that the BCB's previous deal with Nimbus was a staggering $56.88 million six-year deal that was struck in October 2006.
But given the bitter experience with Nimbus and the prevailing market scenario, Yunus said that he was not at all unhappy about the value of the bids.
“You have to take the current market situation in your consideration when you compare the offer with the previous deal. On the other hand we also have to understand one thing which is that we have realized only about $3 to $ 4 million from Nimbus, which included a huge production cost.
“But this time it is a net offer and the production cost or other things will only come to consideration if we arrange tri-series' outside of the matches allotted in the FTP,” explained Yunus.
The BCB had floated the tender for TV rights for the period of November 1, 2012 to April 30, 2016 and Bangladesh are scheduled to play 18 Test matches, 46 one-day internationals and five Twenty20 internationals in the next four years as per FTP.