Amidst strict conditions, BCCI seeks title sponsor for IPL

New Delhi: The Board of Control for Cricket in India is seeking a title sponsor for the Indian Premier League (IPL) very actively. The cricket board has laid down stringent measures for all the prospective bidders for the upcoming edition of the league. The BCCI has categorically shown its reluctance in entertaining bids for the sponsorship rights from Chinese partners or any such firms from other countries who do not have good relations with India.

According to a report in Cricbuzz, the reserve price for the rights in Rs 360 crore per year. Tata are the current sponsors of the Indian Premier League. While the cricketing body has specifically not mentioned the nations or the brands, the decision to lay down strict measures comes from the negative experience with Chinese smartphone maker Vivo. The border standoff between India and China led to Vivo exiting from the sponsorship agreement which was for five years.

Tata group subsequently took over the rights of the IPL. The report further mentions that the BCCI is rejecting the bids from any such player who has association with fantasy games, sportswear and cryptocurrency and also firms involved with betting and gambling. Specific criteria has been outlined by the Indian board for ineligibility to apply for the bidding process for firms even with an indirect link to gambling, betting or activities of similar sorts. Prohibition is also extended to firms connection with alcohol products and involvement in production of sportswear.

The need for a new title sponsor has arrived as the old deal with Tata Group expired after the last season. The upcoming sponsorship deal is set to be for five years as the brand associated with the BCCI will have to sign a deal till 2028. Real estate giant DLF were the first sponsors of the cash-rich league from inaugural 2008 edition till 2012.