BCCI said any party interested in securing sponsorship rights would have to show sales in excess of Rs 300 crore.
The Bahrain Chamber of Commerce and Industry said on Monday that the new IPL sponsor that will replace the Chinese mobile phone company Vivo will retain the rights for only four and a half months, and it may not necessarily end with the highest bid being the winner.
Vivo, which received a deal worth 440 crore a year for five seasons, has suspended its partnership with the board of directors due to the border confrontation between China and India.
The Bahrain Chamber of Commerce and Industry on Monday issued a tender invitation for a new sponsor.
Minister Jay Shah announced a 13-point clause for bids from interested "third parties" and the winner will be announced on August 18th. The deadline for submitting bids is August 14th.
The Bahrain Chamber of Commerce and Industry press release stated that "rights are available for the period from August 18, 2020 to December 31, 2020."
BCCI also stated that offering the highest amount may not bring rights to a company if the board of directors is not satisfied with its plans to market its most prized property.
“... it has been made clear that BCCI will not be obligated to grant rights to the third party indicating its willingness to pay the highest fees in the context of discussions / negotiations with BCCI following the introduction of the EOI,”
“BCCI's decision in this regard will also depend on a number of other relevant factors, including but not limited to the manner in which the third party intends to exploit the rights and the potential impact thereof on the IPL trademark ...” stated the BCCI statement.
It can now be safely assumed that BCCI will receive a lower rating for four months compared to Vivo which has been enjoying the rights for a longer period.
As per the BCCI Standards for Acceptance of Expression of Interest (EOI), “... the sales volume of the relevant third party must be over Rs 300 crores (three hundred crores Indian Rupees only) according to the most recent audited accounts.”
Audited accounts must be submitted with the bid.
The Bahrain Chamber of Commerce and Industry also clarified that brokers or agents cannot enter into the bidding process and "any of these bids will be canceled."
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