BCCI announces tender for IPL title sponsor rights for 2024-2028
Alcohol products, betting, cryptocurrency, real money gaming (not including fantasy sports gaming),tobacco and parties which is likely to offend public morals such as, including but not limited to, pornography are prohibited to bid.
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The Governing Council of the Indian Premier League (IPL) has invited bids for acquiring the title sponsor rights for the Indian Premier League seasons 2024-2028.
As per a note relates by Jay Shah, Secretary BCCI (Board of Control for Cricket in India), the detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) document which will be made available on receipt of payment of a non-refundable fee of Rs 5,00,000 plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till January 8, 2024.
“Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid,” set the tender invitation note.
Annexure B of the bid invite highlights prohibited brand categories that cannot bid. These include, alcohol products, betting, cryptocurrency, real money gaming (not including fantasy sports gaming),tobacco and one which is likely to offend public morals such as, including but not limited to, pornography.
The interested parties are further informed that the highest bid submitted by the parties shall be subject to Tata Sons Private Limited exercising its ‘Right to Match’ such bid (“RTM”). The details of the RTM are provided in Annexure C. It says as per the previous title sponsor agreement between BCCI and Tata Sons Private Limited (“Tata”), BCCI is required to notify Tata of the highest bid amount (highest bid) received for the Title Sponsorship Rights pursuant to the ITT process. Consequently, Tata will have the right (but not an obligation) to match the highest bid within five working days of date of opening of the financial bids and notify its intent to BCCI. In the event, Tata exercises its right to match the highest bid, then BCCI will be obligated to grant the title sponsorship rights for the rights period to Tata.
BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.
