Broadcasting rights solely at the discretion of SEV
The New Interim Committee of Sri Lanka Cricket assumed office on 4th
July 2011.
The electronic and print media has in the recent past highlighted
certain issues regarding the Agreement signed between Sri Lanka Cricket
and Somerset Entertainment Ventures (SEV).
The Interim Committee has since it assumed office taken time to study
the relevant documentation and files in this regard an SLC Media release
said.
It further said: tenders were called via the media and five bidders
submitted their bids. The SEV bid was the highest bid submitted and
after evaluations were done by the Heads of Marketing and Finance, the
Interim Committee duly approved the award of the tender to SEV on 7th
July 2010.
The tender was awarded thereafter. The value of the tender was US$
1,750,000/- for a period of five years from 2011 to 2015.
As per agreement, the Sponsor (SEV) acquired sole rights for
Marketing and Sponsorship for the CLT 20 Tournament, Inter Provincial
T20, ODI and four-day formats of the tournaments.
The Marketing and Sponsorship rights included all Broadcasting and
Media rights, all Title sponsorship rights, all teams sponsorship
rights, all clothing and merchandising rights, all logo rights, all
Perimeter boards, pitch and boundary line tape advertising rights, all
food and beverages distribution and sales rights, all ticket sales
revenue rights, all signage rights, all event promotion rights, rights
to appoint official travel, media, airline, drink suppliers etc for the
events.
Team selling rights on a 50/50 share basis with SLC. Since all of the
above rights have been given to SEV, it is their sole prerogative to
award these rights at their discretion, with Sri Lanka Cricket not
having any input on the awarding process of such rights.
As per the Agreement, the Contract is valid for 5 years from the date
of signing of the agreement. The team ownership rights remains with Sri
Lanka Cricket until the teams are sold to potential buyers who would pay
a premium to secure the same.
50% of the Revenue from this sale accrues to Sri Lanka Cricket, over
the period of 25 years that this ownership subsists for. A 50% share
been agreed with SEV, bearing in mind that they need to invest in
logistical arrangements, staffing, overseas players and other expenses
which need to be incurred to build the brand image and quality of this
tournament.
All other rights other than team ownership would be available for
Sale after five years.
The broadcasting and media rights are solely at the discretion of SEV
and SLC has no control in this regard. We are made to understand that
SEV has negotiated with Rupavahini and MTV and relevant documentation
with regard to the negotiations have been sent to SLC upon our request. |