Sri Lanka Cricket to open bid for global media rights

Sri Lanka Cricket (SLC) is likely to open the bids for the media rights in global market on March 1. Previously, the global media rights were awarded to Sony Pictures Networks India (SPN) for a period of three years. The rights started from 2020, but the contract is set to expire this year.

Current broadcasters, Sony Sports will face a stiff competition from Star Sports and FanCode to secure the new deal. In addition to this, Viacom 18 have become the latest entrant for the bidding as per Cricbuzz report. Furthermore, Viacom 18 have held discussions with the cricket board to understand the current position and if a bidding process is possible at this stage.

However, the timing of the tender is currently unsuitable considering that the television market has recently slumped. The same is reflected in the ongoing marquee Border-Gavaskar Trophy between India and Australia, which has failed to attract commercials.

Although it is speculated that advertisers could possibly be saving for the forthcoming WPL & IPL. These leagues are thought to be the events that could garner a lot of attention.

Sri Lanka dependent on India matches over bidding process

At present, the SLC global rights is valued to around $23-25 million. The tender could cross a little over $25 million. It will entirely depend on the frequency of matches Sri Lanka host India during the period. According to the Future Tours Programme (FTP), India play Sri Lanka in only eight games. Three ODIs and three T20Is in July, 2024 followed by two-match Test series in 2026.

However, given the number of games played recently between the two neighbouring sides and the new contract, last-minute additions cannot be not ruled out. The board will commence the process of selling the rights for its domestic market after the global market has been covered.