The BCCI said that any party interested in securing the sponsorship rights will have to show a turnover of over Rs 300 crore.
The new IPL title sponsor to replace Chinese mobile phone company Vivo will hold the rights for only a four-and-a-half-month period and the highest bid may not necessarily end up being the winning one, the BCCI stated on Monday.
Vivo, which had a Rs 440 crore per year deal for five seasons, has suspended its partnership with the Board due to the Sino-India border stand-off.BCCI floated the tender invite for a new sponsor on Monday.
Secretary Jay Shah announced a 13-point clause for submission of the bids from interested “third parties” and the winner will be announced on August 18.The last date for submission of bids is August 14.
“The Rights are available for the period from August 18, 2020, to December 31, 2020,” the BCCI press release stated.
“Details regarding the Rights and product categories in which the Rights are available will be provided only to parties who submit the EOI and are found eligible,” it stated..