12:00 AM, May 17, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

BCB more than happy with $20.025 million

BCB more than happy with $20.025 million

Sports Reporter

The Bangladesh Cricket Board (BCB) was highly satisfied with the 20.025-million-dollar price fetched by the sale of their worldwide media rights for six years to local satellite channel Gazi TV.
Gazi TV won the rights in an open bid yesterday and offered slightly more than the floor price of 20 million dollars -- an amount which made the BCB high-ups more than happy. It is the major source of income for the country's richest sports body.
“The open bidding was in the morning and two companies took part, and one company failed to meet the floor price. Gazi gave us a little bit more than the floor price and all their documents are in order and financially they have no problems, so we awarded them the rights. BCB is getting net twenty million twenty-five thousand dollars as the production cost is not included,” said BCB president Nazmul Hassan Papon yesterday.
Since elevation to the Test arena, BCB struck their first five-year TV deal with WorldTel which was finally taken over by ESPN-STAR for 11.75 million dollars and then the second and last long-term deal was made with Nimbus by 56.88 million dollars.
An Australian company which was assigned to evaluate the value of the property projected around 50 million dollars for the current rights.
Papon however said that there was no scope for them to be dissatisfied with the deal and BCB's marketing and commercial committee chairman Kazi Inam Ahmed said that they have got the best price.
“We set the floor price after calculating everything. I don't want to show off; rather I am interested about the net amount the BCB gets,” said Papon.
When asked about the mode of payment, Inam informed: “It's year by year. The bidder had to sign the contract by which they are obligated to pay the guarantee money for a full year in advance. They will make the payment series by series in the particular year. We have made a very secure deal in our favour with the help of legal experts and chartered accountants. Security deposit has been paid for the full six years,” said Inam.


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