The Board of Control for Cricket in India (BCCI) is aggressively seeking a title sponsor for the Indian Premier League (IPL) and has laid forth strict requirements for interested parties.
Notably, the BCCI has hinted that it may not accept proposals from Chinese corporations or brands, citing a desire not to be affiliated with firms from nations with whom India does not have favorable relations. The rights have a reserve price of INR 360 crore each year.
Without mentioning any specific country or brand, BCCI decided in the aftermath of the backlash it faced when Vivo, a Chinese mobile manufacturer was an IPL sponsor amidst the India-China clash in Ladakh. Subsequently, Vivo chose to exit from the five-year sponsorship agreement, relinquishing the rights to the Tata Group.
Reads that particular clause in the Invitation to Tender (ITT) document, "Each bidder which is a corporate entity must not be incorporated in a jurisdiction/territory with which India does not have a friendly relation. In the event, that any corporate(s) that is a shareholder or a proposed shareholder in the Bidder is incorporated in a jurisdiction/territory with which India does not have friendly relations, the Bidder will be required to provide a detailed chart of the shareholding in such Bidder or it ultimate Parent Company and the details of ultimate owners/beneficiaries of all shareholders which are body corporate in such Bidder or its ultimate Parent Company along with the Bid Documents as a material obligations."
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In addition to betting and gambling organizations, the BCCI is rejecting bids from companies linked with fantasy games, apparel, and cryptocurrency. Companies directly or indirectly associated with gambling and betting enterprises, fantasy games, cryptocurrency trading, cryptocurrency exchange, cryptocurrency tokens, and alcohol goods are all prohibited by the BCCI. Notably, there is an unusual prohibition on companies that manufacture sportswear.
“Bidder, including any of its Group companies: (i) should not be engaged in betting or gambling services or similar services in India or anywhere in the world; (ii) should not provide any betting or gambling services or similar services to any person in India; and (iii) should not have any investment or ownership interest in any Person engaged in betting or gambling services in India”, the BCCI’s ITT for title sponsorship further read.
Companies operating from the jurisdiction of tax havens will not be allowed, says the ITT which points out countries like Mauritius and the British Virgin Islands.
The need for a new IPL title sponsor arose because Tata Group decided not to continue with their deal with BCCI after acquiring the title sponsorship for the Women’s Premier League as well. The upcoming sponsorship agreement is set to span five years, extending until 2028. The reserve price of Rs 360 crore aligns with the value the Tata Group had been paying for the preceding two seasons.
(Cricbuzz inputs)
