Sri Lanka Cricket to open bid for global media rights on March 1

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, starting from 2020, the contract for which is set to expire this year.

It is understood that the current broadcasters, Sony Sports, 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 to join the fray for the bidding war to win the rights 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 Women’s Premier League (WPL) and the Indian Premier League (IPL), which 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. While 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.