The Board of Control for Cricket in India has issued the invitation for expression of interest for the title sponsorship rights of the Indian Premier League 2020.
The successful bidder will replace Vivo as the lead sponsor of the IPL.
The BCCI has invited Express of Interest from third parties to acquire the title sponsorship rights for the IPL 2020.
The IPL this year will be held in the UAE from September 19 to November 10
The winning bidder will get the status of the IPL title sponsor from August 18, 2020 to December 31, 2020.
The eligible parties following the submission of the EOI will be provided with the details of the rights and product categories in which the rights are available, the BCCI has stated in a Press release.
The bidders must have an annual turnover of over ₹300 crores “as per the last audited accounts”.
The other tender pre-requisites include:
- Interested third parties (excluding marketing agency/agents) wishing to acquire any of the Rights should submit an EOI in the manner prescribed. If the marketing agency/agents are not eligible to bid and any bid submitted by a marketing agency/agent shall be rejected at the outset.
- Each EOI should: a) contain the full name and address of the relevant third party; and b) indicate the product category or product categories in respect of which the third party is interested of being appointed as a Title Sponsor for IPL 2020; and c) provide last audited accounts evidencing a turnover of ₹300 crores.
- The Rights and the product categories will be discussed after the delivery of EOIs, with each third party having submitted an EOI and to clarify, third parties need not include an indicative level of fees for acquiring the Rights in their EOIs. The final bid will be submitted in accordance with the procedure prescribed in clause 13 below.
- Neither the publication of this document nor any part of its content is to be taken as any form of offer capable of acceptance or any commitment or acknowledgment on the part of BCCI to proceed with any EOI of any third party and BCCI reserves the unfettered right not to grant any or all of the Rights without giving any reasons.
- BCCI shall not be obliged to award the Rights to the third party which indicates a willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI. 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 as also the fan/ viewer experience, which will be examined/ evaluated by BCCI in the course of discussions/ negotiations with interested third parties who submit an EOI.
- The grant of the Rights shall be conditional upon the relevant third party entering into a binding agreement with BCCI (standard BCCI template of the agreement), the form of which will be sent by BCCI to the relevant third party. No legally binding obligations shall be assumed by or imposed on BCCI or its nominated representatives in connection with this document and its subject-matter, and none of the Rights shall be granted until such time as a binding agreement is entered into by BCCI and any relevant third party.
- Neither BCCI nor its officers, employees and/or agents shall, in any circumstances whatsoever, be responsible or liable in any manner or mode by whatever name called or described for any costs, liabilities, losses, damages or expenses of any kind whatsoever incurred or suffered in connection with this document or as a consequence of the preparation or delivery of any EOI.
- Each EOI must be delivered by email to the following address: firstname.lastname@example.org with the following subject line “EOI for Title Sponsor for IPL 2020” and must be received by 5.00pm IST on August 14, 2020. Any EOIs received after this deadline will not be considered unless BCCI decides otherwise at its sole discretion.
- Post-delivery of the EOI, BCCI shall inform the Rights, product categories and entitlements to the interested third parties. The final bid should be sent to email@example.com 11 am to 1pm on August 18, 2020.
It is feared that the BCCI might lose up to 60% in the bargain to find a replacement for Vivo, which has paused the IPL sponsorship deal for a one-year period.
Dream11, Byju’s, Amazon were being tipped as the key contenders for the rights. In a late development, Baba Ramdev’s Patanjali group has also expressed keenness to acquire the rights.