In a significant development for the Indian Premier League (IPL), the Governing Council has initiated the process of inviting bids from reputable entities for acquiring the Title Sponsor Rights for the upcoming seasons from 2024 to 2028. This move ushers in a new era for the IPL, providing an opportunity for businesses to align themselves with one of the most prominent and widely followed cricket leagues globally.
The detailed terms and conditions governing the tender process are encapsulated in the ‘Invitation to Tender’ (ITT) document. Interested entities are required to acquire this document, and it comes at a non-refundable fee of INR 5,00,000 (Indian Rupees Five Lakh Only), plus any applicable Goods and Services Tax. The ITT document will be available for purchase until January 8, 2024. To facilitate the procurement of the ITT, interested parties are instructed to follow the procedure outlined in Annexure A to this notice.
“Crucially, the ITT documents will be shared only upon confirmation of the payment of the non-refundable ITT fee. While any interested party can purchase the ITT, eligibility to bid is contingent upon meeting the criteria specified in the ITT and complying with other stipulated terms and conditions. The mere acquisition of the ITT does not confer the right to submit a bid”.
It is noteworthy that certain brand categories in which interested parties cannot bid are outlined in Annexure B. Prospective bidders are advised to carefully review this section to ensure compliance with the specified restrictions.
“A noteworthy provision in the bidding process is the involvement of Tata Sons Private Limited’s ‘Right to Match’ (RTM). The highest bid submitted by parties will be subject to this RTM, as detailed in Annexure C. This adds a layer of complexity and strategy to the bidding process”.
However, interested parties must be aware that the Board of Control for Cricket in India (BCCI) retains the right to cancel or amend the bidding process at any stage, in any manner, without providing a specific reason.
