The ITT for the media rights of the International Cricket Council has been purchased by seven broadcasting companies (ICC). The purchasers of the lengthy, $ 30,000 document are not particularly secretive, with the exception of one, of course. The usual suspects, including Sports Technologies Pvt Ltd (FanCode), Disney Star, Viacom 18, Zee TV, and Sony Pictures Network India, have taken the ITT with some secrecy regarding the seventh one.
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Four of the six individuals listed above, according to Cricbuzz, have paid the bid collateral, which is $ 3.25 million, in order to participate in the bidding process.
In addition to the unidentified ITT bidder, confirmation is awaited for the other two, Amazon and FanCode. The payment was due on Monday, August 22nd.
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The payment confirmation is a significant milestone because it proves an important point: all four broadcasters, Star, Viacom, Zee, and Sony, who have been embroiled in a harsh and protracted legal battle with the ICC, may participate in the bidding process. The new development might rule out any chance of a boycott by any of them. The ICC had to state this in its most recent supplementary clarifications: “We are providing to you the Bid Collateral required under the ITT by way of telegraphic transfer into the Designated Account.” The collateral had to be deposited into an ICC account.
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In addition to making a payment, everyone who wants to participate must submit their technical bids by August 22 between noon and 2 p.m. Dubai time, according to the ICC. The appropriate Bidder will be present when the ICC’s General Counsel (or another authorized representative of IBC) accepts Envelope A and issues a receipt, the regulator recently stated. More information should become available in the next few hours.
The final participant list will be available following the submission of Envelope (A), which contains the company credentials and audited accounts. On Friday, the financial bidding, which is a closed process in the first round, will occur (August 26). There might also be a second round (e-auction), but only if the highest bids are within 10% of one another.