The Board of Control for Cricket in India (BCCI) on Tuesday announced the release of tender invitation for IPL's title sponsorship rights for seasons 2024 to 2028. The sponsorship deal with Tata was till the end of the 2023 season. The Indian board announced the release and listed three Anexures too.
"Board of Control for Cricket in India (BCCI) announces the release of Invitation to Tender for Title Sponsor Rights for the Indian Premier League Seasons 2024-2028," BCCI wrote in a press release. Notably, the detailed terms and conditions for the tender process are contained in the ‘Invitation to Tender’ document which will be available for the interested parties after payment of a non-refundable fee of INR 5,00,000.
"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”) document which will be made available on receipt of payment of a non-refundable fee of INR 5,00,000 (Indian Rupees Five 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 January 8, 2024," the release further stated.
It added that the ITT documents will be shared after the 'confirmation of payment of the non-refundable ITT fee.' Two more Anexures - Anexure B and C are also attached to the release. Annexure B provides details on 'certain brand categories in which the interested party cannot bid.' Notably, Annexure C states about Tata's 'Right to Match' the highest bid made by the parties.
"As per the previous title sponsor agreement between BCCI and Tata Sons Private Limited (“Tata”), BCCI is required to notify Tata of the highest bid amount (“Highest Bid”) received for the Title Sponsorship Rights pursuant to the ITT process. Consequently, Tata will have the right (but not an obligation) to match the Highest Bid within (5) working days of date of opening of the financial bids and notify its intent to BCCI. In the event, Tata exercises its right to match the Highest Bid, then BCCI will be obligated to grant the Title Sponsorship Rights for the Rights Period to Tata," the release added.
Notably, as per Tata Capital's website, the Tata Group took the IPL 2022 sponsor rights till the end of the 2023 edition.
