The Board of Control for Cricket in India has invited applications to tender process from parties to bid for the title sponsorship rights of its cash-cow, Indian Premier League, starting August 1 and ending on July 31, 2022. The ITT will be available at a cost of Rs. 3 lakh on non-refundable basis from June 1 to 21 at the BCCI headquarters here and the bids need to be submitted at 12 noon on June 27 at a place specified in the document or at any other place as decided and intimated by the Board.
As per the ITT, issued as a newspaper advertisement by BCCI, the Board reserves the right at its discretion to cancel or amend the entire bidding process at any stage.
Chinese mobile firm Vivo had bagged the title sponsorship right of the T20 League for a two-year period (2016 nd 2017), reportedly at a cost of Rs 100 crore per year, an upward rise of Rs 20 crore annually from what beverage giant Pepsi had paid through an earlier agreement beginning 2013.
The firm that wins the next bid will be the title sponsors of IPL for the next five seasons beginning 2018.