BBL hits a roadblock as Ten Network backs out Broadcasting Rights renewal

 . Last updated on June 13, 2017, 3:44 PM
BBL hits a roadblock as Ten Network backs out Broadcasting Rights renewal
Ten Network will not renew its contract with BBL due to lack of funds.

Cricket Australia is going through tumultuous times and it is clearly apparent. While, the board faced an abrupt impasse dealing with players payments, financial woes of Ten Network are on the brink of taking a massive dig on Big Bash league. The leagues’ broadcasting rights are exclusive to Ten Network, which recently halted its trade temporarily on Australian share market. Meanwhile, Cricket Australia will roll out broadcasting rights in the market. However, the expected earning of AUD 40 million might bear the hit.

Ten Network might not even bid for the next season as it lost its primary financial backups. The loan from Commonwealth Bank expired and its investors are not keen to renew their financing. It became clear, Illyria Pty Limited and Birketu Pty Limited has stopped financing the company beyond its current facility. The contract of funding will expire on 23 December 2017. Earlier, in fact, Ten indicated the uncertainty of funding.

BBL and WBBL came up as a salvage for Ten as it was worth AUS 100 million over five years. The next bid will even reach thrice the current amount. The intrusion to market was made possible by Ten Network, which successfully increased the popularity of the game. For the next session of five years from 2018 to 2023 BBL’s broadcasting value will rise to AUD 300 million. The rights might move to Foxtel and Nine, the entertainment company, who are eager to join the BBL bandwagon.

The current issue of play dispute has delayed the process of selling broadcasting rights and it could jeopardize the complete course of action. Cricket Australia wants to change the payment patterns from the fixed revenue percentage model to fixed wages, to which the Cricketers Association are adamantly opposed. Another concern is the change of BBL head as Anthony Everard was promoted to board’s executive management.


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