Sponsoring Indian Team After Dream 11 Exit Will Cost More After BCCI's Move. Report Says Reserve Price Is...
Sponsoring the Indian cricket team will cost interested parties more, according to a report
- Sponsoring the Indian cricket team will cost more after Dream11's exit as lead sponsor, according to a report
- BCCI's new reserve price is Rs 3.5 crore for bilateral and Rs 1.5 crore for multilateral matches
- Earlier, the rate for bilateral games was Rs 3.17 crore and Rs 1.12 crore for multilateral matches
Sponsoring the Indian cricket team will cost interested parties more, according to a report. The BCCI is looking for a new Team India sponsor after Dream11's exit. Dream11 had replaced Byju's as India's lead sponsor in 2023, signing a three-year deal worth Rs 358 crore, which included a per-match fee of Rs 3 crore for home games and Rs 1 crore for away games. However, according to a report in Cricbuzz quoting industry sources, the new reserve price is "Rs 3.5 crore for bilateral matches and around Rs 1.5 crore for multilateral fixtures, particularly in the ICC and ACC competitions."
Earlier, the rate for bilateral games was Rs 3.17 crore and Rs 1.12 crore for multilateral matches. The report added that with the rise in the reserve price, the BCCI is targeting a minimum valuation increase of "over 10 percent for bilaterals and around three percent for multilateral tournaments."
The report added: "Based on the revised base price, the board could potentially earn more than INR 400 crore. The final figure could be much higher, of course."
On Tuesday, the Board of Control for Cricket in India (BCCI) invited bids for acquiring the national team lead sponsor rights. The board announced the release of an Invitation for Expression of Interest (IEOI), which provides the detailed terms and conditions governing the submission and evaluation of bids. The last date to purchase IEOI documents is September 12, while the deadline for submission of bid documents is set for September 16.
The BCCI said that the IEOI will be made available upon receipt of payment of a non-refundable fee of Rs 5 lakh plus any applicable Goods and Services Tax.
"Bidders are to email the details of payment made for the purchase of the IEOI to sponsorship@bcci.tv, as per the procedure laid down in ANNEXURE A. It is clarified that the IEOI documents shall be shared only upon the confirmation of payment of the non-refundable IEOI fee.
"Any bidder wishing to submit a bid is required to purchase the IEOI. However, only those satisfying the eligibility requirements set out in the IEOI and subject to the other terms and conditions set out therein shall be eligible to bid. It is clarified that merely purchasing the IEOI does not entitle any person to bid," it said in a release.
The BCCI also said it reserves the right to cancel or amend the IEOI process at any stage in any manner without providing any reason.
"The bidder must note the following requirements and restrictions pertaining to eligibility with respect to the IEOI: A bid may only be submitted either by (i) the person/entity which has purchased a copy of this IEOI upon payment of the IEOI fee; or (ii) any person/entity which is in the same Group as such person/entity. The IEOI fee paid by the bidder (whether successful or unsuccessful) shall not be refunded or adjusted against any other payment obligation of the bidder under any circumstances."
India Cricket Team