BCCI Releases Invitation To Tender For IPL Title Sponsor Rights 2024-2028. The Board of Control for Cricket in India (BCCI) has officially announced the release of the Invitation to Tender for IPL Title Sponsor Rights covering the Indian Premier League Seasons 2024-2028.
The IPL Governing Council invites bids from reputable entities interested in acquiring these rights. The ‘Invitation to Tender’ document outlines the comprehensive terms and conditions, including eligibility requirements, bid submission procedures, and rights and obligations. It is available upon payment of a non-refundable fee of INR 5,00,000 plus applicable Goods and Services Tax.
The document will be available for purchase until January 8, 2024, and buying it alone doesn’t grant bidding entitlement. The highest bid is subject to Tata Sons Private Limited’s ‘Right to Match’ (RTM), allowing Tata to match the highest bid within 5 working days of financial bid opening. However, if Tata exercises this right and matches the highest bid, BCCI must grant Title Sponsorship Rights to Tata for the Rights Period.
While any interested party must purchase the ITT to submit a bid, eligibility is contingent on meeting the criteria specified in the ITT. Mere purchase of the ITT does not grant bidding entitlement. Annexure B specifies brand categories in which interested parties cannot bid. Additionally, parties should note that Tata Sons Private Limited retains the ‘Right to Match’ the highest bid, details of which are in Annexure C.
The BCCI retains the authority to cancel or modify the bidding process at any point without explanation. Restricted brand categories include alcohol, betting, cryptocurrency, real-money gaming (excluding fantasy sports), tobacco, and those that may violate public morals, such as pornography.
When And Where Is The IPL 2024 Auction?
On Tuesday, the Indian Premier League (IPL) revealed the trimmed IPL 2024 auction pool, reducing it from 991 to 333 players. The auction is scheduled for December 19 in Dubai at 2:30 PM IST.
How Is The Final IPL 2024 Auction List Divided Between Indian And Overseas Players?
Among the final list, 214 players are Indian, and 119 are overseas, including two from associate nations. Categorized as 116 capped players, 215 uncapped players, and two from associate nations, the auction offers a maximum of 77 slots, with 30 reserved for overseas players.