The Board of Control for Cricket in India on Wednesday invited applications through the Invitation to Tender (ITT) process from interested parties for title sponsorship rights of Indian Premier League (IPL). The bidding will be done for the title sponsorship of IPL, starting from August 1 and ending on July 31, 2022. Reports say that interested parties need to submit their bids on June 27 at 12 noon at a place, which will be specified in the document or at any other place as decided and initiated by the BCCI.
Reports say the Invitation to Tender (ITT) would be made available for a cost of Rs 3 lakh from June 1 to June 21 at BCCI headquarters in Mumbai. It must be noted that these this Rs 3 lakh paid for the ITT is non-refundable.
According to the Invitation to Tender, which has been issued as a newspaper advertisement by the cricket board, the BCCI also has the right to cancel or make any amendments to the entire process of bidding at any given stage. Chinese mobile company Vivo had won the bid for the sponsorship of the last two seasons of BCCI’s cash cow – the Indian Premier League (2016 and 2017). According to PTI, this sponsorship had cost Vivo Rs 100 crore per year, which was an increase of Rs 20 crore from what Pepsi had to pay to BCCI for the sponsorship at the beginning of 2013. It must be noted that the company that wins the bid will be the title sponsors for the 11th edition of the Indian Premier League in 2018.
The IPL started a T20 cricket revolution in India following Mahendra Singh Dhoni’s young Indian team unexpected win in 2007 T20 World Cup in South Africa. The recently concluded edition marked the 10 year anniversary of the IPL, which was won by Rohit Sharma-led Mumbai Indians in a nail-biting finale against Steve Smith-led Rising Pune Supergiant.