At least five entities, including Tata Sons, have submitted its expression of interest (EOI) for the title sponsorship rights for this year’s Indian Premier League with the Board of Control for Cricket in India (BCCI).
This will be the first significant association for Tata Sons with cricket if it wins the bid. Byju’s, Unacademy, Dream11 and Patanjali are also understood to be in the fray.
Friday was the last date for submitting the EOI. No financial bids have been placed so far. Entities short listed by the BCCI will be asked to place a financial bid by August 18.
Only those entities with an annual turnover of over ₹300 crore will qualify. The sponsorship rights are available for the period from August 18 to December 31. BCCI said that the sponsor will not be determined only on the basis of the highest bid received.
BCCI has had to look for a new sponsor after smartphone maker Vivo pulled out as the title sponsor due to the backlash against Chinese products. Vivo was paying ₹440 crore a year to BCCI for the title sponsorship.
Market analysts said that BCCI would have to settle for a lower amount from the new sponsor. BCCI has also said the sponsor will not be determined only on the basis of the highest bid received. “BCCI shall not be obliged to award the rights to the third party, which indicates willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI. 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 as also the fan/ viewer experience, which will be examined/ evaluated by BCCI in the course of discussions/ negotiations with interested third parties who submit an EOI,” BCCI had said in a statement on August 10.
This year IPL will be held in UAE from September 19 to November 8.