They must also provide details of its overall experience in selling rights, similar to those the BCCI is offering, outlining the strategy that they will follow for the same. Agencies making bids should have an annual turnover of at least Rs 500 million, as shown in its latest audited annual accounts for the financial year ended no earlier than December 31, 2016.
“The rights and also the relevant fees to be paid for the same will be discussed after the delivery of EoIs, with each third party having submitted an EoI. Third parties need not include any indicative level of fees for acquiring the rights in their EoIs,” the BCCI stated. The rights entail privileges such as the right to use the official IPL composite logo and commercial partner status in all communications, and first right of refusal on broadcast sponsorship in the product category.
Last year, the BCCI had held auctions for the rights to IPL title sponsorship. The media rights and the former went to Chinese handset maker Vivo for Rs 21.99 billion for five years while the media rights were picked up by Star India for Rs 163.4 billion — this too for five years.