Local TV channel Gazi Satellite Limited has bagged the media and broadcasting rights of the Bangladesh Cricket Board for the next six years as the board decided to sell the rights for half the price of the present market value. Gazi offered highest $20.25 million in the open bidding at a city hotel on Friday though the amount was half of the price estimated by an Australian firm.
To evaluate the market price of the media rights, the BCB had appointed Australian firm Future Sports and Entertainment and as per their calculations for the 88 international matches to be played in the country in the next six years, the value should have been $47 million.
But the BCB decided to cut down the floor price to $20 million that many experts believe could have been earned through the ODI series at home against India next month and the ODI and Test series against the same side next year.
‘We are satisfied with the deal,’ BCB president Nazmul Hasan told reporters at the Ruposhi Bangla Hotel on Friday.
‘It would have been more embarrassing for us if no party had taken part in the bidding or had not exceeded the floor price.
‘I don’t believe that our cricket is worth Tk100 crore ($12.8 million dollars).’
Apart from Gazi, only Mediacom participated in the bidding but failed to touch the floor price of $20 million fixed by the BCB. Sporty Solutionz, an India-based company, did not participate in the bidding despite submitting its proposal for technical assessment.
After getting the Test status, the BCB had struck their first five-year TV deal with World Tel which was later taken over by ESPN-STAR for $11.75 million and then the second and last long-term deal was made with Nimbus worth a whopping $56.88 million, but the board had bitter experience with the both deals.
The Board is confident that they won’t have to go through such a similar experience with Gazi TV this time.
‘Our deal is very much protected,’ said BCB’s media and marketing committee chairman Kazi Inam Ahmed.
‘We will get the bank guarantee beforehand every year, while they [Gazi TV] will make payment on series by series basis,’ said Inam.
‘We will receive next year’s bank guarantee before we release this year’s bank guarantee and the process will go on.’
However, the BCB could not hide the fact that its decision to select Gazi TV was never an out-of-question issue as one of the board directors – Gazi Golam Mortuza Pappa – is also associated with the organisation.
‘He never had a desire to attend any of the meetings for discussing the issue as he had already bid for the deal,’ said Inam.
‘We were totally transparent in our deal.’
-With New Age input
