After an action-packed mini-auction in the lead-up to the Indian Premier League's 2024 edition, the Board of Control for Cricket in India (BCCI) is on the look-out for a title sponsor for the cash-rich domestic T20 league. But the cricket body is doing so with strict conditions applied, reportedly. (Cricket News)
The Indian cricket board has implied that it might not entertain bids from Chinese companies or brands, according to a Cricbuzz report. The decision has been taken to avoid being associated with companies from countries that have tense bilateral relations with India, as per the report.
The reserve price for the rights is INR 360 crore per year, the report adds. While any particular countries or brands have not been mentioned explicitly in the tender document, BCCI's stance seems to have arisen from public backlash at the choice of Chinese smartphone maker Vivo as the title sponsor earlier.
The situation was exacerbated post the border stand-off between India and China. Eventually, Vivo chose to exit from the five-year sponsorship agreement, relinquishing the rights to the Tata Group.
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On the night of December 12, 2023, BCCI had released the tender for the title sponsorship rights of IPL for the 2024-28 cycle. Tata held the IPL title sponsorship rights till the end of the 2023 season.
The report cites a clause in the Invitation to Tender (ITT) document, which states: "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"
Furthermore, the report has also claimed that BCCI is not accepting bids from companies associated with fantasy games, sportswear, and cryptocurrency too, apart from betting and gambling firms.
"Bidders operating/engaged directly or indirectly in athleisure, performance wear and sportswear," will not be eligible, says the ITT. Companies operating from the jurisdiction of tax havens will not be allowed, says the ITT and points out countries like Mauritius and British Virgin Islands.
