Mumbai, December 13: The Board of Control for Cricket in India (BCCI) has officially announced the issuance of an Invitation to Tender (ITT) for the title sponsorship rights for the Indian Premier League (IPL) season running from 2024 to 2028.
In a statement issued on Tuesday, the IPL Governing Council invited bids from reputed entities interested in acquiring the title sponsorship rights for the specified IPL season. The comprehensive terms and conditions governing the tender process, including eligibility requirements, bid submission process, and associated rights and obligations, can be found in the ITT document. Interested parties can obtain this document by paying a non-refundable fee of Rs 5,00,000 (Five Lakh Indian Rupees only) plus any applicable Goods and Services Tax.
The deadline to purchase ITT has been set as January 8, 2024, and interested entities are required to follow the mentioned process. It is emphasized that the acquisition of ITT does not automatically confer the right to submit a bid. Only those entities satisfying the eligibility criteria mentioned in the ITT and subject to other specified terms and conditions will be considered eligible to participate in the bidding process.
The statement also highlights certain brand categories mentioned in Annex B, where interested parties are restricted from bidding. Additionally, the highest bid submitted by the parties will be subject to Tata Sons Private Limited using ‘Right to Match’ such bid (RTM), details of which are given in Annexure C.
BCCI reserves the right to cancel or modify the bidding process at any stage and in any manner without assigning any specific reason.
