The BCCI has set the ball rolling to decide who will be the Indian Premier League title sponsor over the next five seasons. A tender notice inviting bids for the IPL title sponsorship rights for the 2018-2022 seasons was floated on Wednesday.
The winning bid will be granted exclusive Title Sponsorship rights for the IPL. The rights period, to commence from August 1, 2017, will run up to July 31, 2017. The INVITATION INVITING TENDER document will be available for sale between 1st and 21st July. Bids can be submitted latest by July 27. However, the date for opening the bids is not declared. The BCCI has also reserve the right to amend or cancel the entire bidding process.
The base price for the five year bid is expected to be Rs 100 crore per annum, but the final bid might go up to Rs 130 crore. “The fact that this is the best cricketing property left for brands to grab for is set to escalate the competition for the rights, which have seen a steady escalation in values with each new contract over the past ten years. Then come the rarity and exclusivity factors. The rights for the title are exclusive and there are no other parallel rights available at least for the next three years. This is set to escalate these rights’ values by 25 % to 30%,” says Mr Ashish Chadha, sports market evaluation veteran and Chief Executive, Sporty Solutionz.
Brands like Vivo, Oppo, Gionee, Jio, Vodfone, Kia, Airtel, PayTM, Amazon and Maruti are expected to be among the bidders. The brands relying heavily on cricket as a marketing career are well aware that there is no other premium opportunity available at least for the next three years.
The title sponsorship with it brings an interesting package of exclusive and premium on-ground and on-air branding opportunities, which over the past 10 years have converted in up to 7-time ROIs for the brands.