Sony waiting for BCCI's final offer over IPL media rights

Sony Pictures Network India (SPNI), the official broadcasters of the Indian Premier League (IPL), told TOI in an e-mailed statement on Wednesday (August 24) that they are still waiting for a 'final written offer' from the Board of Control for Cricket in India as far as renegotiations of the league's media rights for the 'next period' are concerned.

"We await a final offer from the BCCI," SPNI wrote back, replying to a specific query in this regard. This comes a day after BCCI sources said they had already made the 'final written offer' to SPNI, calling for an open tender to enable price discovery in a transparent manner.

BCCI's contention is that SPNI has missed the two-month deadline post the IPL 2016 final. Sources say that considering the Supreme Court of India was hearing the Justice Lodha committee recommendations vis-a-vis the BCCI and the court order came only on July 18, there was little time to conclude negotiations involving such high stakes.

Further, it is learnt that the existing contract between SPNI and BCCI clearly stipulates that in a scenario where SPNI fails to conclude a deal in the 60 days following the IPL final, 'the BCCI will make a final written offer which SPNI needs to accept or reject in the next 10 working days'. SPNI's clear contention is that they are still waiting for any such order.

The fact that the contract between BCCI and SPNI mentions the need for a `final written offer' means that SPNI doesn't just have the first rights of refusal over the IPL rights but also have the right to hear out a counter offer from the BCCI.

Sources point out that three rounds of renegotiation have already been held between the cricket board and SPNI without any concrete outcome yet. The contract between BCCI and SPNI, especially the clause highlighting rights renegotiation mentions that the broadcaster will have to negotiate exclusively with the BCCI 'in good faith'. "Only SPNI and the BCCI can confirm if the two parties are keeping the faith," a cricket industry official observed.

The BCCI, which has filed a review petition following the Supreme Court order and is expected to file a compliance report on Thursday, is yet to reveal details of the negotiations. All that they've been maintaining is that the IPL deal needs to be tendered to allow it to be held in a transparent manner. "The 60-day window that the contract mentions cannot be held valid because these were unforeseen circumstances and the country's highest court was on the verge of a big verdict involving Indian cricket. But even then, if according to them (BCCI), the 60-day window has concluded, where is the final written offer," an official asked.