On Monday, the BCCI stated that they have opened bids for new IPL title sponsor to replace Chinese mobile phone company Vivo as the rights will be given just a four-and-a-half-month period. They also stated that the highest bidder may not necessarily end up being the winning one. Vivo, which had ₹440 crores every year deal for five editions of the IPL, has suspended its partnership with the Board due to the Sino-India border stand-off.
BCCI floated the tender invite for a new sponsor on Monday. In a press release regarding the same, BCI wrote: “The Rights are available for the period from August 18, 2020, to December 31, 2020. Details regarding the Rights and product categories in which the Rights are available will be provided only to parties who submit the EOI and are found eligible.”
The BCCI also stated that there are chances that the highest bidder may receive the rights for a company if the board is not satisfied with its plans on commercializing its most precious property.
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Explaining the same, the Indian board stated, “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….(it) will be examined/evaluated by BCCI in the course of discussions/negotiations with interested third parties who submit an EOI.”
It can now be safely assumed that BCCI will not be getting a huge valuation for a four-month period compared to Vivo which had the right for a bigger duration. The Indian board also clarified that middle-men or agents will not be allowed to enter the bidding process and “any such bids will be canceled.”
BCCI said, “It is clarified that marketing agency/agents are not eligible to bid and any bid submitted by a marketing agency/agent shall be rejected at the outset.”
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Yoga guru Baba Ramdev’s Patanjali Group has been showing a keen interest in entering the bidding for the rights.
