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IPL 2020 Title Sponsorship | BCCI invites EoIs, sets turnover of interested parties at over Rs. 300 crore

IPL 2020: On Monday, the Board of Control for Cricket in India (BCCI) invited companies under Expression of Interest (EoI) for the title sponsorship of the IPL’s 13th edition. This development came just after the government showed a green flag to BCCI for conducting IPL matches.

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The entire tournament will be played for 53 days that is between 19 September 2020 and 10 November 2020. In total there will be 60 matches played at different venues. However, the tournament schedule has not been finalized yet.

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The proposed 60 matches of the tournament will be played in UAE at three venues namely – Abu Dhabi, Dubai, and Sharjah.

Why Expression of Interest (EoI) this year?

The BCCI was forced to invite companies for the title sponsorship because Vivo decided to pull out of its sponsorship agreement for this year’s edition of the IPL.

Earlier this month the 13th edition of IPL lost Vivo as their title sponsors because of the increasing tensions between India and China at the LAC (Line of Actual Control).

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Brijesh Patel the IPL Governing Council chairman said: “It is not a setback (Vivo pulling out), there is already a lot of interest (for title rights).

Why only the companies with a turnover of over Rs. 300 crores?

In the invitation for EoIs that is posted on the IPLs official website, BCCI has clearly mentioned that the turnover of interested 3rd party must be over Rs. 300 crores according to their last audited accounts.

Vivo-IPL was an Rs. 440 crores deal. That’s why BCCI is looking for potential sponsors.

Potential Sponsors

As BCCI is looking for some potential sponsors to overcome its loss, Baba Ramdev led Patanjali Ayurved has shown interest in becoming the new title sponsor.

Amazon is also in the race to become the new title sponsor of IPL2020.

However, experts feel that BCCI will have to settle for way less than the Rs. 440 crores.

The sponsorship rights of the selected company are available from 18 August 2020 to 31 December 2020.

 

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