Only companies with an annual turnover of at least 300 million rupees (about 40 million USD) are also clarified by BCCI that are eligible to bid for IPL sponsorship.The Board of Control of Cricket in India (BCCI) has invited third parties to express their (EOI) interest in obtaining title sponsorship rights (rights) for the Indian Premier League (IPL) 2020 to be held in the United Arab Emirates (UAE)) from 19 September 2020 To November 10, 2020.The development occurs a week after the departure of Vivo. Interested parties must purchase the Bid Document before August 14, and the Board of Control of Cricket in India will announce winning the bid four days later.BCCI also clarified that only companies with an annual turnover of at least 300 million rupees (around 40 million USD) are eligible to sponsor an IPL.In a statement released, the Board of Directors disclosed that all expressions of interest must-Contain the full name and address of the relevant third party; AndIndication of the product class or product classes that the third party is interested in relation to its designation as the main sponsor of IPL 2020; AndPresenting the most recent audited accounts showing a sales volume of 300 Crore Indian Rupees (300 Crore Indian Rupees only).In the meantime, rights and product categories will be discussed after the EOI is delivered, and each third party will have provided an EOI. For clarity, third parties need not include any indicative level of fees to obtain the rights to their EOI.BCCI has also stated that bidding on the highest amount may not win the company's rights if the board of directors is not satisfied with its plans to market its most valuable property.Also Read: IPL during Covid: no fans, 4 tests in two weeks for players
