What’s the story?
The Board of Control for Cricket in India (BCCI) has started inviting applications from parties to bid for the title sponsorship rights of the Indian Premier League (IPL) for a period starting from August to July 2022. The firm that manages to bag the bid will be the title sponsors of the T20 league for a period of five years, starting from IPL 2018. Also read: IPL 2018 to have eight teams, Gujarat and Pune franchises to be discontinued based on contract
In case you didn’t know…
VIVO, the Chinese mobile manufacturer based out of Guandong, had bagged the title sponsorship rights of the IPL for a period of two years (2016 and 2017). Before VIVO, soft drink giant Pepsi had won the title sponsorship of the T20 tournament for a bid of Rs. 396.8 crore, pipping Bharti Airtel for the same and securing a five-year deal, of which it completed only three years. Real estate giant DLF were the first title sponsors of the league, for a period of five years starting 2008.
The heart of the matter
The Invitation To Tender (ITT), at a cost of Rs 3 lakh, will start from June 1 to June 21 at the BCCI headquarters in MUmbai, and has to be submitted by noon on June 27. The status of the bid is non-refundable basis, and the details regarding the place for submission have been specified in the bid documents. The BCCI can also change the place at its own discretion, and the parties will be intimated by the Board, if so happens.
The BCCI also has the right to amend the conditions of the bidding, or cancel it altogether, if the need arises.
What’s next?
The IPL is set to undergo some major changes in IPL 2018, starting from the teams participating in it. With Rising Pune Supergiant and Gujarat Lions set to make way for Chennai Superkings and Rajasthan Royals, the fan base will see a marked shift, so will team loyalties, as players will most likely undergo an open auction and shift teams.
Author’s Take
Having completed a total of ten seasons, the IPL still continues to be a strong brand and a marquee T20 event, holding major prominence in the international calendar. The BCCI realises that the IPL is a cash-cow to them, and would be hoping to maximise their profits from the two-month affair by getting out the best of its sponsorship deals and associations.
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