The primary topics of discussion in the emergent Apex Council meeting of the Board of Control for Cricket in India (BCCI) on Monday, December 9, included Byju's plea to avoid the Indian team's jersey sponsorship and Star Sports' letter requesting a course correction on the rights value. According to Cricbuzz, the board postponed making judgments on both matters, although it may reach a compromise with the two parties.
It is understood that the Star dispute involves more than Rs 180 crores (precise amount to be determined) in the pricing structure for international matches, with the BCCI, the regulator, and Star, the broadcaster, disagreeing over the validity of the original Media Rights Agreement (MRA). More specifically, it concerns a postponed series against South Africa in which Star insists on applying the old tariffs while the BCCI wants to use the current rates.
The average cost of an international match, according to the five-year MRA signed in 2018, was about INR 60 crore per match, but in the fine print, Star was required to pay INR 46 crore per game in the first year, INR 47 crore in the second year, INR 46.5 crore in the third year, INR 77.4 crore in the fourth year, and INR 78.9 crore in the fifth and final year.
A six-match white ball series versus South Africa that was postponed at the start of 2020—the third year of the MRA—due to Covid is at issue between the parties. The games were played the previous year, in September and October 2022, the last year specified in the agreement. According to reports, the BCCI charged the cost at the previous year's rate (Rs. 78.9), but Star wants the value to be calculated using the third year's price (Rs 46.5). A decision was postponed after the subject was considered at the virtual Apex Council meeting. The likelihood of a resolution between the parties is high.
While we're on the subject of Byju's, the BCCI is free to use the bank guarantee that it has in its hands. The Edtech company, which has recently made headlines for the wrong reasons, appears to want to end its sponsorship deal to prevent too much brand exposure. Byju's deal is still in effect through November 2023, but it's understood that the BCCI asked the business to continue working with them through March 31 when a new sponsorship cycle will begin.
Killer brand replaces MPL
In a related development, MPL has been replaced as the kit sponsor of the Indian team by a clothing manufacturing firm called Kewal Kiran Clothing Limited (KKCL or Killer). As an e-sports platform called MPL pulled out of the agreement that was in place until December of this year, the move became effective right away. MPL was paying Rs 65 lakh for each game, and not all of the rights have been fully transferred. Because MPL is thought to have settled some of Spo's liabilities, KKCL's charge might be a little lower.
Cricket Betting Champions
The International Cricket Council (ICC) Cricket World Cup, which is played every four years, is the most prominent cricket competition in terms of champions. The ICC World Twenty20 is another significant event that takes place every two years and is significant for the T20 format. The Big Bash League (BBL), the Caribbean Premier League (CPL), the Bangladesh Premier League, and other competitions are also available (BPL). These leagues are regarded as important cricket betting competitions since they draw a sizable audience and prominent cricket players from all around the world.
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