The Board of Control for Cricket in India (BCCI) invited bids from "reputed entities" for acquiring the title sponsorship rights of its events on Tuesday, August 1. The world's richest cricket board is expected to add more to its revenue once it is finalised as to who will ultimately acquire the rights after the bidding process draws to a close.
"The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) which will be made available on receipt of payment of a non-refundable fee of INR 1,00,000 (Indian Rupees One Lakh Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till August 21, 2023," a press release from the highest cricketing governing body in India read.
Notably, based on several reports one of the leading fantasy gaming platforms in India Dream11 bagged the lead sponsor rights of the BCCI for a whopping INR 358 crore. While Dream11 walked away with the lead sponsor rights, one of the leading payments networks in the entire world, Mastercard acquired the title sponsorship rights for all the BCCI's home and away fixtures.
