BCCI invites ‘expression of interest’ for title sponsorship rights for IPL 2020
On Monday, the BCCI has invited tenders for a four-month title sponsorship deal for the 2020 edition of the Indian Premier League, with VIVO exiting as the principal sponsor for the upcoming season. However, the board also confirmed that the highest bidder will necessarily not be the winner.
Just months before the 2020 edition of the IPL was to kick off, the BCCI were dealt with a piece of bad news as Chinese smartphone manufacturers VIVO walked out of their deal as the title sponsors for the upcoming edition. Immediately post the news, BCCI on Monday, announced that they have started inviting tenders for being the title sponsor for a period of four and a half months.
BCCI’s secretary Jay Shah, on Monday, put up a 13-point clause for the submission of bids from the interested parties, with the winner set to be announced on August 18 and the last date of submission on August 14. The rights would be immediately available for the third-party organisation following the announcement, running till the end of 2020.
"The Rights are available for the period from August 18, 2020 to December 31, 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. 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 apex cricketing board in the country also confirmed that they would not be obliged to award the rights to the third party which had the highest bid on the table. In its release, the BCCI added that the decision rather will depend on a number of other factors, including the third party organisation’s potential impact on the brand ‘IPL.’
"...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.