“This methodology effectively broke cartels,” Varma recalls.The BCCI e-auction wasn’t going to be about the cricket. That’s when it decided on e-auctions.As per the ITT for BCCI rights e-auction, the board called participants to submit their technical bids by 10 am on April 3. The base price was Rs 43 crore per match for first year and Rs 40 crore each for the next four years. By 1 pm, the consolidated bid was at Rs 4,517.25 crore, which went up to Rs 4,565.20 crore by 2 pm and Rs 5,488.30 crore by 4 pm. Finally, Star India won the media rights for Rs 6,138.1 crore — Rs 60.1 crore per match.

Source: Economic Times April 12, 2018 03:22 UTC