BCCI Invites Bid For Title Sponsorship For IPL, Tender Priced At Rs 3 Lacs
May 31, 2017 at 6:06 PM
The Board of Control for Cricket in India (BCCI) will start accepting the ‘Invitation To Tender’ for the title sponsorship of the India Premier League (IPL) from June 1 to June 21 at the BCCI headquarters in Mumbai.
The new title sponsorship rights will be for a period starting from August 2018 to July 2022.
The Invitation To Tender (ITT) costs Rs 3 lakh and should be submitted on June 27.
The BCCI has mentioned that any change taking place will be at its own discretion. If any such things take place, the involved parties will be intimated by the Board. The BCCI also has the right to amend the conditions of the bidding, or cancel it altogether, if the situation demands.
The current sponsorship right of the IPL is with VIVO, the Chinese mobile manufacturer based out of Guandong. The smartphone major had grabbed a two-year deal that expires with the culmination of the 2017 season. It paid Rs. 100 crores per year, Rs. 20 Crores more than what Pepsi initially paid in 2013
The IPL has had a couple of title sponsors in the past. Before VIVO set foot in the Indian cricketing landscape, soft drinks major Pepsi had won a five-year deal for Rs. 396.8 crore. It completed only three years, however before pulling out and making way for VIVO.
DLF, the real estate giant, was the first title sponsors. It was associated with the league for a period of five years from the inaugural edition. The bidding has already attracted huge corporation including names like Facebook and Twitter.
The IPL completed a decade of existence this year and will see a couple of huge changes in the next season. The two suspended side – Rajasthan Royals and Chennai Super Kings – will return to the fold, whereas, Rising Pune Supergiants and Gujarat Lions, the two teams which were brought into existence to replace the suspended franchises will bow out as the two-year contract ended his year.
There was speculation about a 10 team tournament even but the BCCI has made it clear that it has no such plans to increase the number of teams in the league. Apart from the fresh title sponsorship bidding and the re-inclusion of the two suspended franchises, new TV rights and another couple of changes are also being expected to take place.