BCCI Sets Strict Criteria for IPL 2024 Title Sponsorship, May Exclude Chinese Brands
The Board of Control for Cricket in India (BCCI) has initiated the search for a title sponsor for the upcoming Indian Premier League (IPL) and has laid down rigorous conditions for potential bidders. In a notable move, the BCCI has indicated its reluctance to entertain bids from Chinese companies or brands, aligning with its stance on maintaining associations with nations not in friendly relations with India. The reserve price for the title rights is set at INR 360 crore per year.
China Exclusion and Vivo’s Departure
The decision to exclude bids from Chinese companies is a consequence of the negative experience with Vivo, a Chinese smartphone maker, following the border standoff between India and China. The public backlash and Vivo’s subsequent exit from the sponsorship agreement prompted the BCCI to consider restrictions on bids from entities associated with countries lacking amicable relations with India.
Apart from the exclusion of Chinese brands, the BCCI has outlined specific criteria for ineligibility, barring bids from companies connected to fantasy games, sportswear, and cryptocurrency, along with betting and gambling firms. The prohibition extends to entities operating directly or indirectly in athleisure, performance wear, and sportswear. Moreover, companies associated with alcohol products and tobacco face restrictions, and those operating from tax havens like Mauritius and the British Virgin Islands will not be allowed to participate.
Need for a New Title Sponsor
The search for a new title sponsor became imperative as the previous deal with the Tata Group concluded after the last season. The upcoming sponsorship agreement is expected to span five years, extending until 2028. The reserve price of INR 360 crore aligns with the value the Tata Group had been paying for the preceding two seasons.
While the initial response to the sponsorship tender has not been overwhelmingly positive, there is still an opportunity for interested parties to participate in the bidding process. The IPL’s esteemed status as one of the premier leagues globally suggests that a reputable firm may come on board at a favorable price. The Invitation to Tender (ITT) document, a prerequisite for bidding, will be available for purchase until January 8, with the bidding process expected to occur around January 13-14.
