The brand new IPL identify sponsor to exchange Chinese language cell phone corporate Vivo will grasp the rights for just a four-and-a-half-month duration and the very best bid won’t essentially finally end up being the successful one, the BCCI mentioned on Monday. Vivo, which had a Rs 440 crore consistent with 12 months deal for 5 seasons, because of the Sino-India border stand-off. BCCI floated the comfortable invite for a brand new sponsor on Monday. Secretary Jay Shah introduced a 13-point clause for submission of the bids from “3rd events” and the winner can be introduced on August 18. The ultimate date for submission of bids is August 14.
“The Rights are to be had for the duration from August 18, 2020 to December 31, 2020,” the BCCI press unencumber mentioned.
“Main points in regards to the Rights and product classes by which the Rights are to be had can be supplied handiest to events who post the EOI and are discovered eligible,” it mentioned.
The BCCI additionally mentioned that bidding the very best quantity won’t fetch the rights for an organization if the board isn’t glad with its plans on commercialising .
“…it’s clarified that BCCI shall no longer be obliged to award the Rights to the 3rd birthday party which signifies willingness to pay the very best charges for the duration of discussions/ negotiations with BCCI after filing an EOI,” the BCCI mentioned.
“BCCI’s choice on this regard can even rely on plenty of different related elements, together with however no longer restricted to, the way by which the 3rd birthday party intends to take advantage of the Rights and the prospective affect of the similar on logo IPL…,” the BCCI unencumber mentioned.
“…(it) can be tested/evaluated by way of BCCI for the duration of discussions/negotiations with 3rd events who post an EOI,” it added.
It could now be safely assumed that BCCI gets a lesser valuation for a four-month duration in comparison to Vivo which had the rights for a larger period.
In step with the BCCI’s norms for accepting the ”Expression of Pastime” (EOI), “…turnover of the 3rd birthday party should be over Rs 300 Crore (Indian Rupees 3 Hundred Crores handiest) as consistent with the ultimate audited accounts.”
The audited accounts wish to be submitted with the bid.
The BCCI additionally made it transparent that middle-men or brokers can not input the bidding procedure and “this sort of bids can be cancelled.”
“It’s clarified that advertising company/brokers don’t seem to be eligible to bid and any bid submitted by way of a advertising company/agent can be rejected on the outset.”
is amongst those that have expressed hobby in bidding for the rights.