Cricket

IPL 2020: BCCI invites tender for four-month title sponsorship; highest bid not guaranteed winner

  • Press Trust of India
  • August 10th, 2020
  • 21:16:42 IST

The new IPL title sponsor to replace Chinese mobile phone company Vivo will hold the rights for only a four-and-a-half-month period and the highest bid may not necessarily end up being the winning one, the BCCI stated on Monday.

Vivo, which had a Rs 440 crore per year deal for five seasons, has suspended its partnership with the Board due to the Sino-India border stand-off. BCCI floated the tender invite for a new sponsor on Monday.

Secretary Jay Shah announced a 13-point clause for submission of the bids from interested "third parties" and the winner will be announced on 18 August. The last date for submission of bids is 14 August.

BCCI representational image. AFP

BCCI representational image. AFP

"The Rights are available for the period from 18 August, 2020 to 31 December, 2020," the BCCI press release stated.

"Details regarding the Rights and product categories in which the Rights are available will be provided only to parties who submit the EOI and are found eligible," it stated.

The BCCI also stated that bidding the highest amount may not fetch the rights for a company if the board is not satisfied with its plans on commercialising its most precious property.

"...it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI," the BCCI stated.

"BCCI's decision in this regard will also depend on a number of other relevant factors, including but not limited to, the manner in which the third party intends to exploit the Rights and the potential impact of the same on brand IPL...," the BCCI release stated.

"...(it) will be examined/evaluated by BCCI in the course of discussions/negotiations with interested third parties who submit an EOI," it added.

It can now be safely assumed that BCCI will get a lesser valuation for a four-month period compared to Vivo which had the rights for a bigger duration.

According to the BCCI's norms for accepting the 'Expression of Interest" (EOI), "...turnover of the interested third party must be over Rs 300 Crore (Indian Rupees Three Hundred Crores only) as per the last audited accounts."

The audited accounts need to be submitted with the bid.

The BCCI also made it clear that middle-men or agents cannot enter the bidding process and "any such bids will be cancelled."

"It is clarified that marketing agency/agents are not eligible to bid and any bid submitted by a marketing agency/agent shall be rejected at the outset."

Yoga guru Baba Ramdev's Patanjali Group is among those who have expressed interest in bidding for the rights.

Updated Date: August 10, 2020 21:16:42 IST

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

IPL 2021: 'Thank you for everything' – Twitter reacts as Virat Kohli ends reign as RCB captain
First Cricket News

IPL 2021: 'Thank you for everything' – Twitter reacts as Virat Kohli ends reign as RCB captain

Virat Kohli's captaincy reign in IPL ends without a title as RCB suffer defeat against KKR in the IPL 2021 Eliminator

AB de Villiers says Virat Kohli had 'much bigger impact than he'll ever understand' as RCB skipper
First Cricket News

AB de Villiers says Virat Kohli had 'much bigger impact than he'll ever understand' as RCB skipper

Since taking over as RCB's captain in 2013, Kohli has led the team to the playoffs four times, including the last two seasons, and the final in 2016.

T20 World Cup 2021: David Warner treated harshly in IPL, but he thrives on the big stage, says Brett Lee
First Cricket News

T20 World Cup 2021: David Warner treated harshly in IPL, but he thrives on the big stage, says Brett Lee

Sunrisers Hyderabad removed Warner from the captaincy in the first leg of the Indian Premier League (IPL) this year and when the league resumed in the UAE he was left out of playing XI after ordinary outings in the first two matches.