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
IPL Auctions 2021 - No major sponsor on board yet:The biggest cricket league in the world, the Indian Premier League (IPL), once again has no sponsors. The relationship between IPL and title sponsor Dream11 ended on December 31 with a very remote chance to renew the deal with the flagship fantasy platform. Neither the official IPL website (Iplt20.com) nor any of the IPL press releases bear the Dream11 name or logo.Senior BCCI Officer in Sponsor Status IPL 2021. We are told that it is likely that the Bahrain Chamber of Commerce and Industry (BCCI) will make a new bid for the main sponsor, as a return to the former sponsors VIVO is not possible."Bidding for the new main sponsor is the only possible option currently available. The IPL deal for 2020 was almost half of it and we cannot continue it. A return to LIVE is also unlikely in the current situation. A Bahrain Chamber of Commerce and Industry official said:" The final decision will be made on the new bid. And sponsor the title soon. "It should be noted that BCCI suspended its 440 Cr sponsorship deal with VIVO in the wake of anti-China sentiment ahead of IPL 2020. This led to Dream11 entering as a title sponsor, but for 222Cr, which is nearly half the price of the VIVO bargain. While signing the agreement, Dream11 tried to negotiate with BCCI to extend the rights to IPL 2022 also at the same price. But BCCI held up and the deal was eventually signed for only one season, i.e. IPL 2020.Will the auction take place without the main sponsor on board?The Board of Directors decided to hold the IPL Auctions 2021 on February 18th in Chennai, which is less than 3 weeks old. It will be difficult for BCCI to terminate the main sponsor before IPL auctions 2021.The IPL Auction is a widely broadcast and televised event in which the Main Sponsor, in particular, earns a large number of Miles and it currently appears that the auction in Chennai will be held without the Main Sponsor.Options with BCCI -1) Renegotiate the deal with Dream11:- Seems unlikely. This could put BCCI in a legal mess. The title sponsorship tender published by BCCI prior to the IPL 2020 was for only one year and if BCCI decided to renegotiate the agreement with Dream11 for another year, that would be contrary to the terms of the bid and could be challenged by the competing parties.2) Return to VIVO:- BCCI has all contractual rights to return to VIVO as the main sponsor. But the question is, will they risk defying the public sentiment that is still against China and Chinese companies? Once again, the choice appears unlikely.3) Bid for the main sponsor:-This appears to be the most feasible option in the current circumstances. This gives everyone involved a fair chance. Even BCCI can get a prime sponsor of similar value to what VIVO promised thanks to the massive audience numbers of IPL 2020.The problem with choice is lack of time. The Bahrain Chamber of Commerce and Industry (BCCI) is unlikely to launch a tender in the next few days and complete the paperwork ahead of IPL auctions 2021.So don't be surprised if auctions for the world's largest cricket league take place without a major sponsor on board on February 18.Also Read: India vs England 2021 | England tour of India Full Schedule, venue, dates - All you need to know
The Tata Group, one of India's largest business groups, will replace Chinese mobile operator Vivo as the main sponsor of the Indian Premier League over the next two years."According to reliable sources, Tata will pay around 670 million rupees to sponsor the two-year title, while Vivo will pay a total of 454 million rupees to terminate the contract, making it a lucrative position for BCCI as determined. . To earn Rs 1,124 crore for the 2022 and 2023 seasons respectively.“Yes, Tata Group is being presented as the main sponsor of the IPL,” confirmed development to PTI Brijesh Patel, President of IPL NSE-0.43%.Bahrain Chamber of Commerce and Industry Secretary Jay Shah welcomed the company into his new position.“Indeed, this is a momentous occasion for the BCCI IPL, as the Tata Group is the epitome of a global Indian enterprise, with a 100-year heritage and operations in more than 100 countries on six continents,” Shah said. Press release.It is known that the Tata group may remain the main sponsor of the 2023 IPL season as it was a one-year franchise where Vivo lost the sponsorship season in 2020.Vivo took 2.2 billion rupees for title sponsorship rights from 2018 to 2022 initially, but after the 2020 Galway Valley military showdown between Indian and Chinese armies soldiers, the band was on hold for a year due to public backlash. Dream11 has been replaced in the IPL.However, Vivo returned in 2021 as the main sponsor of the IPL, despite speculation that the company was looking to transfer the rights to a suitable bidder and the BCCI agreed to the move.Reliable sources at BCCI revealed that the board will earn Rs 547 crore in 2022 and Rs 577 crore in 2023.As per the available information, Vivo has pledged Rs 996 crore for primary care for two years (2022 and 2023) with Rs 484 crore in 2022 and Rs 512 crore next year.The value of the IPL increased as the year expanded to 74 10-team games, with eight teams instead of 60.So how does the unexpected breakout of Rs 1,124 crore for BCCI work?Tata will pay 670 million rupees at a rate of 335 million rupees per year. Of this amount, the rights fee will be Rs 301 crore and an additional Rs 34 crore will be the additional fee (for adding 14 groups).But since Vivo decided to terminate the contract, it will have to pay the difference in both years: 183 million rupees for 2022 and 211 million rupees for 2023.In addition, Vivo will also have to pay an allocation fee of 6 percent for both years, which will be Rs 29 million in 2022 and Rs 31 million in 2023.So in total, Vivo ipl will walk out of the endorsement deal with a payment of Rs 454 crore, which is just over a year of the endorsement money originally provided by the company.This is a big deal for Tata as they will be getting great endorsement rights for the next two years at a low cost. The biggest winner is BCCI, who can win from the new and outgoing sponsor."Like the Tata Group, BCCI wants to promote the spirit of cricket across international borders and the growing popularity of the IPL as a global sporting franchise is a testament to BCCI's efforts," Shah said.He added, “We are really pleased that India’s largest and most trusted business group has believed in the IPL growth story, and with Tata Group, we are striving to take Indian cricket and IPL to higher heights.”Most of the IPL stakeholders are happy to see the return of Vivo ipl, as most of them did not feel comfortable with a Chinese company on board after the 2020 incident, which escalated diplomatic tensions between the two countries.“Sooner or later it would have happened because the presence of Vivo was bringing bad publicity to both the league and the company. With the negative sentiment towards Chinese products, the company had to pull out of sponsorship because the deal required a season,” said a source from the Bahrain Chamber of Commerce and Industry.The meaning of the ipl sponsors is that BCCI takes 50 percent of the money and distributes the rest among the IPL franchises, which have now risen to 10 with two new teams this year.It is understood that new performances will be invited for the next round in 2024.|A source said, "Tata Group wants to be the main sponsor for five years, but a bidding process is required. But the Bahrain Chamber of Commerce and Industry is considering setting up a matching rights option for Tata if they are interested in the next cycle.".Previews article - Hardik Pandya May Captain Ahmedabad Franchise in IPL upcoming matches
