Every week after Vivo’s exit, the BCCI has marketed for its alternative as IPL title sponsors for the 2020 season spanning between August 18 to December 31 this yr. events would wish to purchase the bid doc by August 14 with the BCCI saying the wining bid 4 days later.
The BCCI has made it clear that solely firms with an annual turnover of not less than INR 300 crore (US$ 40 million approx.) could be eligible to bid for the IPL title sponsorship.
The profitable bid, the BCCI has identified, wouldn’t essentially have to be the very best bidder and would depend upon numerous different components. “For the avoidance of doubt, it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates willingness to pay the highest fees in the course of discussions/ negotiations,” BCCI stated in a media launch on Monday, signed by board secretary Jay Shah.
“BCCI’s decision in this regard will also depend on a number of other relevant factors. It includes, but is not limited to, the manner in which the third party intends to exploit the rights and the potential impact of the same on brand IPL as also the fan/ viewer experience, which will be examined and evaluated by BCCI in the course of discussions/negotiations with interested third parties who submit an EOI.”
Vivo had bagged the title sponsorship for 2 years initially in 2015, and retained the rights signing a five-year contract (2017-22), paying about USD 341 million. Final week, the BCCI stated in a media launch, spanning one line, that it had suspended the contract with Vivo just for the 2020 season. Though the BCCI didn’t lay out any reasoning, the political tensions between India and China over border dispute in June is known to be the important thing purpose behind Vivo’s suspension.
The BCCI has not specified whether or not Vivo would make a comeback though the unconfirmed media reviews urged the Chinese language handset producer could be retain the IPL title sponsorship for 2 years from 2021 season.