Mumbai (Maharashtra) [India], Apr 4: The online auction process of the BCCI India International and Domestic Cricket media rights for the period from April 15, 2018 till March 31, 2023, commenced on Tuesday at the BCCI headquarters, Cricket Centre in Mumbai.

The BCCI through their Invitation to Tender (ITT) had invited bids for-Global Television Rights plus Rest of the World Digital Rights Package, Indian Subcontinent Digital Rights Package and Global Consolidated Rights Package. The bid submission process began at 10.00 AM and following scrutiny, Star India Private Ltd, Reliance Industries Limited, and Sony Pictures Networks India Private Limited were found eligible to submit online financial bids and it is a foregone conclusion that the likes of Facebook, Google and YuppTV may have entered into a consortium with the primary bidders.. The online auction began at 2:00 and went on till 6:00 PM, the scheduled close of online auction for the day.

The online auction will now resume today at 11.00 AM from the same stage. To ensure the highest level of compliance, the BCCI are being assisted by MJunction Services Limited, Deloitte Haskins & Sells LLP and Cyril Amarchand Mangaldas. The current valuation is already 15 percent more than Star TV's erstwhile record bid of Rs 3851 crore (USD 750 million then) in 2012.

The GCR comprises worldwide TV broadcast rights as well as digital rights for 102 matches (across three formats) that India will play at home in the next five years. The first top GCR bid was Rs 4176 crore followed by 25 crore incremental bids. Some of the top bids were Rs 4201.20 crore, Rs 4244 crore, Rs 4303 crore and Rs 4328.25 crore.