The Board of Control for Cricket in India (BCCI) has floated the tender for Indian Premier League (IPL) media rights for the 2023-27  as the governing body is expecting a windfall with 10 teams in the fray.

The cricket board said there will be an e-auction for the media rights— a first in the league’s history.

According to media reports on Tuesday, BCCI secretary Jay Shah tweeted the e-auction process and expressed confidence that the media rights value will reflect the enormous growth of the IPL, which is arguably the leading franchise-based league in the sport.

The e-auction will start from June 12, while the last date for purchasing the Invitation To Tender (ITT) documents has been set for May 10.

“I’m pleased to announce that @BCCI has issued the tender document for @IPL media rights for seasons 2023-27. With 2 new teams, more matches, more engagement, more venues, we are looking to take #TataIPL to newer and greater heights,” Shah said in a tweet.

“‘I have no doubts that with this process there will not only be revenue maximisation but also value maximisation, which will benefit India Cricket immensely,” he added.

Star India, owned by Walt Disney Co, is the present holder of the rights having paid approximately $ 2.6 billion last time, which also included the streaming rights.

The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, proposed media rights packages, and obligations, etc. are contained in the ‘Invitation to Tender’ , which will be made available on receipt of payment of non-refundable fee of INR 25,00,000 (Rs. 25 lakhs) plus taxes. The procedure to procure the ITT documents is enlisted in Annexure A to this document. The ITT will be available for purchase till May 10, 2022, Shah added.

“Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing this ITT does not entitle any person to bid,” the BCCI said in a statement.

The bidding is expected to be aggressive with Reliance Industries very bullish on the rights, having recently proposed a sports channel from April 15, apart from other players in the arena like Sony-Zee, Star, and even Amazon.