The Board of Control for Cricket in India (BCCI) has invited tenders to sell the title sponsor rights of IPL. The board will auction sponsor rights for the next five seasons i.e. from 2024 to 2028. At present, the title sponsor of IPL is Tata, which had bought the rights for Rs 600 crore for a two-year deal with BCCI.
According to the information released by the Board, companies wishing to buy sponsor rights will have to purchase tender documents. For this document, companies will have to pay a non-refundable amount of Rs 5 lakh. The last date for purchasing the document is January 8, 2024. After purchasing the document, companies have to send payment details to ipltitlesponsor2023.itt@bcci.tv.
The Board has also made it clear that purchasing the tender document does not mean that participation in the bidding will be allowed on its basis alone. The board will first assess the eligibility of all the companies and only then they will be allowed to participate in the bidding.
At present the title sponsor of IPL is Tata. That means IPL is not just being called IPL, it is being called Tata IPL. Meaning the name of a brand before the league. Like DLF was called IPL in 2008. This is called title sponsorship, for which companies bid and get the deal.
In the year 2008, ₹ 50 crore was given annually for title sponsorship, whereas in 2023 this figure is more than ₹ 300 crore annually. There was a two-year deal between Tata and BCCI, for which Tata paid a total of ₹600 crore.
The auction of IPL 2024 season will take place in Dubai on December 19 from 2:30 pm. BCCI shared the names of 333 players on Monday. There are 77 slots vacant among the 10 teams, meaning 77 players out of 333 will be auctioned, of which 30 will be foreigners.
In the World Cup 2023, the base price of a total of 23 players including Australia's top player Travis Head is Rs 2 crore. Out of 333 players, 214 are Indians. Whereas, 199 are foreign i.e. overseas players. Whereas, 2 players are from Associate Nation.
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