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The Lodha panel is against the Indian cricket board (BCCI) getting into private negotiations with Sony Pictures Networks India on awarding of Indian Premier League's media rights. The panel would rather have a transparent bidding process to avoid the likelihood of corrupt practices and that a TV broadcasting deal of such magnitude should be conducted by inviting more bidders.
The panel is against promoting a system that had earlier led to the Enforcement Directorate investigating into the payment of Rs 425 crore as "facilitation fee" during former IPL chief Lalit Modi's tenure. "It is mentioned in the SC judgement that a transparent process has to be initiated to engage more players in the bidding. This has to be followed," a source in the Lodha panel told TOI on Thursday (July 28).
However, according to the contract between BCCI and Sony, the broadcaster has the "first right of refusal."
According to this, both BCCI and Sony Max would have to agree on a sum of money. If the broadcaster fails to match the amount mentioned by BCCI, the board will float tenders for fresh bidding. The board is also hoping to get more clarity on this when the Lodha panel members meet BCCI bosses on August 9.
The Lodha panel has suggested BCCI should first have a bidding process for IPL TV rights and Sony should then be asked to match the highest bid amount. The last date for signing a new deal is August 30. "We have to understand how the reforms work. We can't comment till the SGM and the meet with the panel." a BCCI official added.
Lodha panel seeks transparency in IPL TV rights bidding process - Cricbuzz
The panel is against promoting a system that had earlier led to the Enforcement Directorate investigating into the payment of Rs 425 crore as "facilitation fee" during former IPL chief Lalit Modi's tenure. "It is mentioned in the SC judgement that a transparent process has to be initiated to engage more players in the bidding. This has to be followed," a source in the Lodha panel told TOI on Thursday (July 28).
However, according to the contract between BCCI and Sony, the broadcaster has the "first right of refusal."
According to this, both BCCI and Sony Max would have to agree on a sum of money. If the broadcaster fails to match the amount mentioned by BCCI, the board will float tenders for fresh bidding. The board is also hoping to get more clarity on this when the Lodha panel members meet BCCI bosses on August 9.
The Lodha panel has suggested BCCI should first have a bidding process for IPL TV rights and Sony should then be asked to match the highest bid amount. The last date for signing a new deal is August 30. "We have to understand how the reforms work. We can't comment till the SGM and the meet with the panel." a BCCI official added.
Lodha panel seeks transparency in IPL TV rights bidding process - Cricbuzz
