IPL Sponsor Search: BCCI's Wish List & No China Policy

 

The Board of Control for Cricket in India (BCCI) is actively in search of a title sponsor for the Indian Premier League (IPL) and has set rigid conditions for potential bidders. The BCCI has made it clear that it may not consider bids from Chinese companies, indicating its reluctance to be associated with firms from countries not in friendly relations with India. The reserve price for the title rights is set at INR 360 crore per year.

The decision to avoid Chinese bids follows a public response and a negative experience with Vivo, a Chinese smartphone maker, which exited a five-year sponsorship agreement after the India-China border standoff. The Invitation to Tender (ITT) document specifies that bidders must not be incorporated in a jurisdiction with which India does not have friendly relations.

Additionally, the BCCI is rejecting bids from companies involved in fantasy games, sportswear, cryptocurrency, betting, gambling, and alcohol products. The ITT outlines specific criteria for ineligibility, including a prohibition on firms engaged in the production of sportswear. Countries classified as tax havens, such as Mauritius and the British Virgin Islands, are also not allowed to participate.

The need for a new title sponsor arose as the previous deal with the Tata Group concluded after the last season. The upcoming sponsorship agreement is set to span five years until 2028, with a reserve price aligning with the value the Tata Group paid for the preceding two seasons.

While the initial response to the sponsorship tender hasn't been particularly encouraging, there is still time for interested parties to purchase the ITT document and participate in the bidding process. The ITT document, necessary for bidding, will be available for purchase until January 8, with the bidding process expected to take place around January 13-14.

Ineligibility criteria for bidders cover engagement in betting, gambling, crypto trading, fantasy gaming, alcohol products, and more. The BCCI aims to ensure a reputable firm joins as the IPL's title sponsor, given its status as one of the premier leagues globally. Surrogate branding, an attempt to indirectly submit a bid on behalf of a different entity, is strictly prohibited.

IPL 2024 Sponsorship:- Understand the drama of IPL 2024 Sponsorship in Bullet Points

• BCCI's IPL Sponsor Hunt: Seeking the Perfect Match! The BCCI is on the prowl for the next IPL title sponsor, and they've got a wishlist! Here's the scoop on what they're looking for and what they're not.
• No Entry for China: After a rocky affair with Vivo, the BCCI says, "No, gracias" to Chinese bids. Friendship matters, you know!
• Stringent Conditions Apply: The BCCI isn't just handing out the IPL crown. You gotta play by the rules. No gambling, no crypto business, and no fancy sportswear.
• Global Appeal: The IPL is a global superstar, so they want a sponsor to match. Tax havens? Sorry, you're not on the guest list.
• Tata Goodbye, New Beginnings: The Tata era concluded, and now the stage is set for a fresh face. Five years, starting at INR 360 crore per year. Any takers?
• Time's Ticking: If you want a piece of the IPL pie, better grab that ITT document by January 8. The bidding showdown is on the horizon, around January 13-14.
• Retail Therapy Unwanted: No retail therapy for this IPL. Surrogate branding? Not cool. The BCCI wants the real deal.
• Be the Star: The IPL's a showstopper, and the BCCI wants a sponsor that can shine just as bright. Will it be you?

Get ready for the IPL 2024 sponsor saga – drama, criteria, and maybe a plot twist or two! Stay tuned!