BCCI seeks IPL title sponsor amidst stringent conditions: Report | Cricket News – Times of India

BCCI seeks IPL title sponsor amidst stringent conditions: Report | Cricket News - Times of India

New Delhi: In search of a new title sponsor for the Indian Premier League (IPL), the Board of Control for Cricket in India (BCCI), according to a report, has set strict conditions for potential bidders.
In particular, the BCCI has signaled reluctance to consider bids from China-based companies or brands, citing concerns about association with countries that do not maintain cordial relations with India. From public backlash and a negative experience with Chinese smartphone maker Vivo. This situation arose after the border standoff between India and China. Tata Group,” as quoted by Cricbuzz.
An important clause of the Invitation to Tender (ITT) reads, “Each bidder who is a corporate entity shall not be incorporated in any jurisdiction/territory with which India does not have friendly relations. In this case , any corporate which 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 shall be liable to such Bidder or its ultimate parent. A detailed chart of shareholding in the company and details of ultimate owners/beneficiaries of all shareholders who are the body corporate in such bidder or its ultimate parent company and as material liabilities shall be furnished along with the bid documents. “

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The BCCI has expanded its roster of disqualified bidders to include companies involved in fantasy sports, sportswear, cryptocurrency, betting, gambling and alcohol products. In particular, businesses engaged in athleisure, performance wear and sportswear are also prohibited from participating.
Despite the initial response to the sponsorship tender not being overwhelmingly positive, the BCCI expects to attract leading bidders given the global stature of the IPL. The five-year sponsorship deal, which will extend to 2028, is expected to go through the bidding process around January 13-14, with the ITT document available for purchase by January 8.
(With IANS input)

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