BCCI to add $59 mn annually to IPL kitty

The Board of Control for Cricket in India (BCCI) expects broadcasters to pay at least $59 million for a year's broadcasting rights of its fledgling Indian Premier League.

The Twenty20 league will involve 56 matches in a year. The base price was arrived at BCCI's meeting on Monday.

Last year, Nimbus Communications paid BCCI $612 million (around Rs 2,724 crore) for four years up to 2010, for all international cricket matches in India.

BCCI Vice-President Lalit Modi confirmed the figure, adding the tender document will be made available in a few days after some modifications are made.

"Broadcasters have the choice of bidding for a five or ten-year period," he said. Three television broadcasters - ESPN STAR Sports, Sony Entertainment Television and Nimbus Communications - have expressed interest in acquiring the rights for the 56 matches that will be played by eight teams.

Almost ten days ago, the broadcasters made their presentations to BCCI, highlighting how best they will leverage acquired rights. "The broadcasters will have to submit the bids by December 20."