The Board of Control for Cricket in India (BCCI) has announced that it is inviting bids for the 2024 IPL title right but with a catch. The board has made it clear that it will not accept bids from Chinese companies or brands, due to the strained relations between India and China.
The BCCI has set the reserve price for the sponsorship rights at INR 360 crore per year, which is the same amount that Vivo, a Chinese smartphone maker, had paid for the previous deal. Vivo had signed a five-year contract with the BCCI in 2018, but decided to exit from the agreement in 2022, following the public outrage and boycott calls over the border clash between India and China.
The BCCI then awarded the IPL title rights to the Tata Group, an Indian conglomerate, for the remaining three years of the contract, at a reduced price of INR 220 crore per year. The Tata Group will be the title sponsor for the IPL 2023 edition, which is scheduled to start in April next year.
The BCCI has not specified any particular countries or brands that are barred from bidding, but has stated that it reserves the right to reject any bid that is not in the best interest of the IPL or the BCCI. The board has also said that it will consider the reputation and goodwill of the bidder, as well as the impact of the sponsorship on the IPL brand and the cricket fans.
The BCCI has invited bids from interested parties by January 15, 2024, and will open the bids on January 20, 2024. The successful bidder will get the title sponsorship rights for the IPL 2024 edition, which is expected to be held in India, after the last two editions were shifted to the UAE and South Africa, due to the COVID-19 pandemic.
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