IMG to earn consulting fees and commission from BPL

Bangla Press Desk:  The Bangladesh Cricket Board (BCB) has appointed US-based IMG Sports Marketing Consulting Firm to manage the next three editions of the Bangladesh Premier League (BPL), with the company set to earn both consulting and strategic service fees as well as commission money from the league.

Under the agreement, IMG will receive a consulting and strategic services fee of USD150,000 for the 12th edition, USD165,000 for the 13th edition, and USD181,500 for the 14th edition. 

Payments for each edition will be made in three to four installments.

In addition to the fixed fees, IMG will also earn commission from foreign franchise sales and media rights. 

The company will receive 4% from any foreign franchise introduced to the BPL. For media rights, no commission will be paid if the sale falls below USD1 million. If media rights are sold between USD1–2 million, IMG will receive 10% for the 12th edition, 7.5% for the 13th, and 5% for the 14th edition. For sales between USD2–3 million, IMG will earn 15%, 11.25%, and 7.5% respectively, and if rights are sold above USD3 million, IMG will receive 20%, 15%, and 10% for the three editions.

The decision comes after BCB had previously received Tk66,50,27,943 from Game On Sports Management for the first two editions of the BPL.

However, the board terminated the six-year agreement ahead of the third edition and assumed full control, aiming for higher revenue. The move, however, did not deliver the expected financial results in past seasons, prompting the board to involve a professional event management company for the upcoming editions.

Five firms participated in the Expression of Interest (EOI) process: Apex Sports Consulting, IMG, Real Impact and Absolute Legend Sports, The IPG Group and Mint Tree Limited, and Trans Group. After evaluation, IMG’s proposal was selected by the BPL Governing Council for the 12th, 13th, and 14th editions.

“IMG is a renowned US-based event management company with a clean reputation. They managed the first seven editions of the IPL and have organised tournaments featuring top golfers such as Tiger Woods. They want to return to franchise cricket.

IMG plans to rebrand the BPL logo, brand all venues, and attract sponsors through dedicated dinners. Choosing such a company will help BCB enhance the league’s image,” BPL Governing Council member-secretary Iftikhar Rahman Mithu said.

The formal contract is expected to be signed next week, completing IMG’s appointment.

BCB believes that by paying consulting fees and allowing commission earnings, the league will not only benefit from professional management but also improve revenue streams through sponsorship, foreign franchise participation, and media rights.

BP/SP