Board of Control for Cricket in India (BCCI) announces the release of Invitation to Tender for Title Sponsor Rights for the Indian Premier League Seasons 2024-2028.
The Governing Council of the Indian Premier League (IPL) invites bids from reputed entities for acquiring the Title Sponsor Rights for the Indian Premier League Seasons 2024-2028.
The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) document which will be made available on receipt of payment of a non-refundable fee of INR 5,00,000 (Indian Rupees Five Lakh Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till January 8, 2024.
Interested parties are requested to email the details of payment made for the purchase of the ITT to firstname.lastname@example.org, as per the procedure laid down in Annexure A. It is clarified that the ITT documents shall be shared only upon the confirmation of payment of the non-refundable ITT fee.
Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid.
The attention of the interested parties is brought to Annexure B which details certain brand categories in which the interested party cannot bid.
The interested parties are further informed that the highest bid submitted by the parties shall be subject to Tata Sons Private Limited exercising its ‘Right to Match’ such bid (“RTM”). The details of the RTM are provided in Annexure C.
BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason.
PROCEDURE TO PROCURE THE ITT DOCUMENTS
The ITT document can be purchased as per the following procedure:
- If the purchasing entity is an Indian entity:
Payment of INR 5,00,000 + 90,000 (GST) i.e., Total INR 5,90,000 (Indian Rupees Five Lakh Ninety Thousand Only) is to be made to the following bank account:INR Bank Account Details:
Account Name: The Board of Control for Cricket in India
Account No.: 60082778272
Name of the Bank: Bank of Maharashtra
Branch: Fort Branch, Mumbai
IFSC code: MAHB0000002
- If the purchasing entity is a foreign entity:
Payment of USD 6,000 (USD Six Thousand Only) is to be made to the following bank account:
USD Bank Account Details:
|Bank of Maharashtra,
|Swift Code: MAHBINBBOVM
|Account No.: 60081674478
|Account Name: The Board of Control for Cricket in India
|Bank of New York, New York.
|Routing No.: 021 000 018
|Swift Code: IRVTUS3N
|Account No.: 803-3165-537
Once the payment is made, the payment confirmation is required to be shared by email to email@example.com with the subject line “Confirmation of Payment of ITT Fee for Title Sponsor Rights for IPL Seasons 2024-2028” along with the following details:
Name of the Party:
Pan No (if applicable):
GST No (if applicable):
It is clarified that the ITT documents shall be shared only upon receiving the payment and the details as mentioned above. It is further clarified that the ITT must be purchased by the entity, or any of its Group companies, that is desiring to bid.
Prohibited Brand Categories
- Alcohol Products;
- Real Money Gaming (not including fantasy sports gaming)
- one which is likely to offend public morals such as, including but not limited to, pornography
Right To Match
- As per the previous title sponsor agreement between BCCI and Tata Sons Private Limited (“Tata”), BCCI is required to notify Tata of the highest bid amount (“Highest Bid”) received for the Title Sponsorship Rights pursuant to the ITT process.
- Consequently, Tata will have the right (but not an obligation) to match the Highest Bid within (5) working days of date of opening of the financial bids and notify its intent to BCCI.
- In the event, Tata exercises its right to match the Highest Bid, then BCCI will be obligated to grant the Title Sponsorship Rights for the Rights Period to Tata.