BCCI invites Bids for Title Sponsorship Rights for IPL 2020
On Monday, BCCI invites Bids for Title Sponsorship Rights for IPL 2020 edition of the Indian Premier League, with VIVO coming out as the title sponsor for the upcoming season. However, the board also confirmed that the highest bidder will not necessarily be the winner.
Just a few months before the 2020 edition of the IPL began, the BCCI faced bad news when Chinese smartphone makers VIVO abandoned their deal as main sponsors for the next edition. Immediately after the news, BCCI announced on Monday that they have begun inviting tenders to be the title sponsor for a period of four and a half months.
BCCI Secretary Jay Shah put a 13-point clause on Monday for the submission of bids from interested parties, with the winner announced on August 18 and the last submission date on August 14. The rights would be immediately available to the third party organization after the announcement, until the end of 2020.
“The Rights are available for the period between August 18, 2020 and December 31, 2020,” the BCCI press release stated.
“Details on the entitlements and product categories in which entitlements are available will be provided only to parties who submit the EOI and are deemed eligible. The business volume of the interested third party must be more than 300 million rupees (only three hundred million Indian rupees) as according to the latest audited accounts. “
The country’s apex cricket board also confirmed that it would not be required to award the rights to the third party with the highest bid on the table. In its statement, the BCCI added that the decision will rather depend on a number of other factors, including the potential impact of the third-party organization on the ‘IPL’ brand.
“… It is clarified that the BCCI will not be obliged to grant the rights to the third party who indicates the willingness to pay the higher rates in the course of discussions/negotiations with the BCCI after submitting an EOI”, indicated the BCCI.
“BCCI’s decision in this regard will also depend on a number of other relevant factors, including, but not limited to, the way in which the third party intends to exploit the Rights and their potential impact on the IPL brand …” BCCI’s statement stated.