BCCI has set certain criteria for IPL title rights bidders for the upcoming Indian Premier League season 2024.
Criteria for IPL Title Rights
The Board of Control for Cricket in India is seeking a title sponsor for the upcoming Indian Premier League and has highlighted a few rigid conditions for bidders to claim IPL title rights for the upcoming 2024 edition.
After the IPL 2024 auction, all the franchises have filled their available spots and TOS has given the updated squad list of IPL franchises with their new signings. On this occasion, the BCCI has revealed the eligibility criteria for the title rights bidders.
The BCCI has indicated that Chinese companies or brands are not eligible for bidding and will also not permit firms from countries that do not have friendly relations with India. The reserve price for the rights is INR 360 crore per year.
Ineligibility of Bidders
(a) Bidder, including any of its Group companies:
-
- (i) should not be engaged in betting or gambling services or similar services in India or anywhere in the world;
- (ii) should not provide any betting or gambling services or similar services to any person in India;
- (iii) should not have any investment or ownership interest in any Person engaged in betting or gambling services in India.
(b) Bidder, including any of its Group companies should not be directly or indirectly engaged in business of crypto trading or crypto exchange or crypto token or any business of similar nature.
(c) Bidder operating/engaged in multiple brand/project categories one of which is relating to alcohol products or tobacco, is not permitted to submit a Bid with respect to the Brand Categories of alcohol products and tobacco. The Bidder is permitted to submit a Bid with respect to any other non-prohibited Brand Category.
(d) Bidder operating/engaged directly or indirectly in fantasy gaming. To clarify, a Bidder, including any of its Group companies, engaged or operating in the business of fantasy sports gaming, is not permitted to submit a Bid.
(e) Bidders operating/engaged directly or indirectly in athleisure, performance wear, and sportswear.
(f) Bidders are prohibited from submitting Bids through surrogate Brands. Surrogate branding refers to any attempt to indirectly submit a Bid on behalf of a different entity or person through the use of a different entity or person. This includes, but is not limited to, the use of different names, brand identities, or logos.
With no specific conditions or brands have not been mentioned explicitly, the BCCI doesn’t want a negative experience as they felt with Vivo. The situation arose after the border standoff between India and China. Eventually, Vivo chose to exit from the five-year sponsorship agreement, relinquishing the rights to the Tata Group.
The particular clause in the invitation to Tender (ITT) document said, “Each bidder which is a corporate entity must not be incorporated in a jurisdiction/territory with which India does not have a friendly relation.”
“In the event, any corporate(s) which is a shareholder or a proposed shareholder in the Bidder is incorporated in a jurisdiction/territory with which India does not have friendly relations, the Bidder will be required to provide a detailed chart of the shareholding in such Bidder or it ultimate Parent Company and the details of ultimate owners/beneficiaries of all shareholders which are body corporate in such Bidder or its ultimate Parent Company along with the Bid Documents as a material obligations.”
BCCI has not revealed the schedules due to the election in India. Once the polling date for the elections has been finalized, BCCI will release the final schedule of the IPL 2024.
