Hunt for new IPL title sponsor begins

The 10th edition of the IPL ended on a high note with the highest viewership in IPL history. VIVO was the official title sponsor for the high-profile Indian Premier League for two years (2016-2017) when it bagged the deal for 200 crores. The mobile company got the opportunity to make an entry after a sudden pull out by the beverage giant Pepsi whose contract was to end in 2017.

Now that the title sponsorship agreement with VIVO has expired, the BCCI has invited fresh bids for the sponsorship rights and has floated tenders for the same through its Invitation to Tender process. The deal will have a validity period starting from August 1, 2017, to July 31, 2022.

The ITT is offered at a price of 3 lakhs carrying non-refundable fees from June 1 to 21 at BCCI headquarters in Mumbai. The deadline for the submission of the documents is at 12 noon on 27th June at the place mentioned in the document or as desired by the board.

BCCI advertisement

The BCCI has issued a newspaper advertisement where it has stated that the board reserves every right to cancel or amend the entire bidding process at any stage, as per the rules of ITT.

IPL’s brand value has taken an upsurge since its inception. Money flow has doubled or quadrupled from what it was at the beginning. It has become an attractive investment for major companies who want a bite of the pie. Last year the sponsorship rights bagged by VIVO saw a surge of 20 crores from what Pepsi had paid.

The company which wins this bid will bag a contract to be the title sponsor for the next five seasons, starting 2018. We should hope that in the coming years IPL remains a jewel in the crown of Indian cricket and hold its brand value as it has done in the first decade.