- RSCRYPTO completes CAS integration into MStar K1, K5, K7 series chips
- Ryan school murder: Bus conductor granted bail, but no clean chit till yet
- 'Padmavati' row: Let CBFC do its job, says Information and Broadcasting ministry
- Screen 'S Durga' at IFFI, says Kerala High Court
BCCI opens bidding process for IPL title sponsorship for next 5 years
MUMBAI: The Board of Control for Cricket in India (BCCI) has invited bids for the title sponsorship rights for the Indian Premier League (IPL) for the next five years through 31 July 2022.
The tender document for the bids is available at a cost of Rs 3 lakh on non-refundable basis from 1 June to 21 June at the BCCI headquarters in Mumbai. All bids need to be submitted by 12 noon on 27 June.
As per the Invitation to Tender (ITT), issued as a newspaper ad by the cricket board, the BCCI reserves the right at its discretion to cancel or amend the entire bidding process at any stage.
In October 2015, Chinese mobile handset manufacturer Vivo had replaced PepsiCo as the title sponsorship for the popular T20 league for a two-year period, reportedly at a cost of Rs 100 crore per year. This was Rs 20 higher than what beverage maker PepsiCo was paying annually through an agreement beginning 2013.
The winner of the new bid will be the title sponsors of IPL for the next five seasons beginning from the 11th edition of the IPL.
As reported earlier, the BCCI will open the IPL media rights bidding process from 17 July. Unlike the previous 10-year cycle, the new TV and digital rights will be awarded for a period of five years.