The Governing Council of the Indian Premier League (IPL) has opened bids for entities interested in acquiring the Title Sponsor Rights for IPL Seasons 2024-2028. Interested parties must purchase the ‘Invitation to Tender’ document for a non-refundable fee of Rs 5 lakh plus Rs 90,000 GST, available for purchase until January 8, 2024. Eligible bidders, as outlined in the document, may submit bids. Notably, alcohol, betting apps, cryptocurrency, real money gaming (excluding fantasy sports gaming), tobacco, and brands offensive to public morals are ineligible to bid for the IPL Title Sponsor Rights.
BCCI emphasized that Tata Sons, under the ‘Right to Match,’ can match the highest bid submitted by other parties. Following the ITT process, BCCI is required to inform Tata of the highest bid amount. Tata then has five working days to decide whether to match the highest bid and notify BCCI. If Tata exercises its right to match, BCCI is obligated to grant the Title Sponsorship Rights to Tata for the specified rights period.
