File photo of Indian cricket team© X/Twitter
The Board of Control for Cricket in India (BCCI) is yet to find a title sponsor for the Indian cricket team for home matches, as there has not been much interest in acquiring the rights due to the steep pricing. The Indian Board either did not receive bids for the rights, or the bids received did not meet expectations, despite the deadline for bid submission being August 13. The BCCI had released the invitation on July 20, with the last date for ITT document purchase being August 4. The BCCI kept August 5 as the last date to seek clarifications. The Board is in talks with potential sponsors, with Google Gemini emerging as one of the brands involved in discussions. Spinny and SBI Life are also reportedly in talks.
BCCI’s current rights holder, IDFC First Bank, pays Rs 4.2 crore per match, but the increased base price of Rs 4.75 crore appears to be a stumbling block for a potential deal. The proposed agreement was for two years, down from the three-year deal that IDFC First Bank secured in 2023. The Indian Board had confirmed in its ITT that it expects the holder to sponsor nearly 35 matches.
“For tendering purposes only, and without constituting any representation, warranty, commitment or minimum guarantee by BCCI, BCCI presently expects that it may host approximately 35 (thirty-five) chargeable matches during the Rights Period, subject always to the final schedule determined by the BCCI in its sole and absolute discretion,” Cricbuzz quoted the BCCI as saying.
There have been a few potential sponsors who submitted bids for the ITG property, for which the non-refundable fee was kept at Rs 1 lakh. GroupM, ITW and Sporty Solutions have reportedly purchased the document.
Moreover, the Indian Board had also released the Request for Quotation (RFQ) for the Associate Partner Rights for BCCI events. A brand that purchases the title sponsorship rights cannot acquire the Associate Partner Rights, and the latter will only be finalised once the title sponsor has been confirmed. The deadline to purchase the RFQ was August 14, while the last date to seek clarifications was August 16. The last date for submission of quotation documents was August 25.
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