A while back the Board of Control for Cricket in India (BCCI) officially suspended its contract with the Chinese mobile phone company Vivo for the upcoming season of the Indian Premier League (IPL). The immediate decision was taken owing to the border tension between India and China following the Galwan valley clash in June in which 20 soldiers from the Indian troops lost their lives. Following the intense border clash, the sentiment of boycotting Chinese products skyrocketed in India.
The cricket governing body in India has signed a contract of Rs 440 crore with Vivo for title sponsorship of the Indian Premier League (IPL). The contract was signed in 2018 and it was for five years ending in 2022. However, now the BCCI has floated the tender has asked the new sponsors to bid.
BCCI Secretary Jay Shah announced a 13-point clause for ‘third parties’ interested to bid for the title sponsorship. The winner of the bid will be announced on August 18, and the last date for submission of bids is August 14.
The BCCI press release stated that the sponsorship rights will be available to the bid-winner for the period of four months. It will start on August 18 and will end on December 31, 2020.
Further details about the rights and product categories in which the Right will be available to the parties who submit the EOI is eligible.
The BCCI also specified that bidding the highest amount may not obtain the rights for a company, if the Board is not pleased with its plans on commercializing its most precious property.
BCCI’s norms also state that the bidders should have a turnover of Rs 300 crore as per the audited accounts. The bidders are obliged to submit audited accounts with the bid.