SLC extends broadcasting bid deadline
Hit by the current COVID-19 pandemic, Sri Lanka Cricket (SLC) was this week, forced to extend the deadline to pay the non-refundable deposit to own broadcasting rights – TV/Radio and Digital to April 30.
The date was fixed for April 15 to make the deposit and sign the non-disclosure agreement for those potential buyers to own broadcasting rights for the next three-year cycle starting April 1, 2020, but with no sign of end to the virus sweeping across the globe, the board decided to give more time.
A number of companies including Sony Pictures Networks India Private Limited–SLC’s broadcast partner for the last seven years, had submitted expression of interest having withdrawn from the race when the bids were floated first. Their primary concern was lack of transparency in the process.
Apart from the lack of transparency another concern of Sony Pictures is the separation of digital rights from TV/Radio broadcasting rights.
Unlike in previous years, SLC floated three separate tenders for TV and Radio broadcast rights, TV production rights and digital broadcast rights spanning the next three years in view of its partnership with Sony (formerly Ten Sports) ending on March 31, this year.
The bifurcation of rights – TV/Radio and Digital Rights – resulted in SLC receiving below par offers with the highest bid for TV/Radio rights of US$ 16 million and digital rights fetching only US$ 6 million. This forced Sri Lanka Cricket to go to the market once again combining TV/Radio and Digital rights.