The Governing Council of the Indian Premier League (IPL) on Monday invited bids from entities for acquiring the Official Partner Rights for the league.
The detailed terms and conditions governing the tender process, including eligibility requirements, process for submissions of bids, rights, and obligations are contained in the “Request for Quotation” (RFQ) document, which will be made available upon receipt of payment of a non-refundable fee of ?5,00,000 plus any applicable Goods and Services Tax.
The RFQ document will be available for purchase till February 19, 2024.
Earlier, the IPL title sponsorship rights were awarded to the TATA Group for a period of five years. The Indian conglomerate, with diverse verticals, has renewed its association with the Board of Control for Cricket in India (BCCI) for a record-breaking fee of ?2,500 crore, the highest-ever sponsorship amount in IPL history.
The TATA Group previously held the title sponsorship rights for the IPL in 2022 and 2023 and is also the current title sponsor of the Women’s Premier League.
On the matter, the BCCI released the following statement:
“It is clarified that the RFQ documents shall be shared only upon the confirmation of payment of the non-refundable RFQ fee. Any interested party wishing to submit a bid is required to purchase the RFQ. However, only those satisfying the eligibility criteria set out in the RFQ and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing the RFQ does not entitle any person to bid.“
Jay Shah, BCCI Honorary Secretary, said:
“We are elated to announce the partnership with the TATA Group as the Title Sponsors of the IPL. The league has transcended borders, captivating audiences worldwide with its unmatched blend of skill, excitement, and entertainment. Similarly, the TATA Group, rooted in India, has emerged as a symbol of excellence, making its mark across diverse global sectors. This collaboration embodies the spirit of growth, innovation, and a mutual dedication to excellence. The unprecedented financial commitment reflects the immense scale and global impact of the IPL on the international sports stage.“
Arun Singh Dhumal, IPL Chairperson, said:
“The collaboration with TATA Group for the title sponsorship of IPL 2024-28 is a significant milestone in IPL’s journey. The record-breaking sum of ?2500 crore by TATA Group is a testament to the immense value and appeal that the IPL holds in the world of sports. This unprecedented amount not only sets a new benchmark in the history of the league but also reaffirms the IPL’s position as a premier sporting event with global impact. TATA Group’s commitment to cricket and sports is truly commendable, and we look forward to scaling new heights together and providing fans with unparalleled cricketing entertainment.“
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