Internet Desk: The Board of Control for Cricket in India through its invitation to Tender process has invited applications from various parties to bid for the title sponsorship rights of its cash-rich, Indian Premier League, starting from August 1 and will end on July 31, 2022.
From June 1 to 21, the ITT will be available at a price of Rs 3 lakh on a non-refundable basis at the BCCI headquarters. At 12 noon, on the 27th of June, the bids need to be handed over at a location mentioned in the document or at any other place as directed by the Board.
According to the ITT, any advertisement issued in the newspaper by the BCCI, gives the Board the right, at its own discretion to annul or amend the entire bidding process at any given stage.
Chinese mobile firm Vivo had bagged the title sponsorship right of the T20 League for a two-year period (2016 and 2017), reportedly at a cost of Rs 100 crore per annum, an upward rise of Rs 20 crore annually from what beverage giant Pepsi had paid through an earlier agreement beginning 2013.
The firm that wins the next bid will be the title sponsors of IPL for the next five seasons beginning 2018.
With inputs from PTI.