The BCCI is also rejecting bids from companies associated with fantasy games, sportswear, and cryptocurrency, in addition to betting and gambling firms. The BCCI has outlined specific criteria for ineligibility, including companies directly or indirectly linked to gambling and betting firms, fantasy gaming, cryptocurrency trading, cryptocurrency exchange, cryptocurrency tokens, and alcohol products. Notably, there is a peculiar prohibition on firms involved in the production of sportswear.
The need for a new title sponsor arose as the previous deal with the Tata Group concluded after the last season. The upcoming sponsorship agreement is set to span five years, extending until 2028. The reserve price of Rs 360 crore is aligning with the value the Tata Group had been paying for the preceding two seasons.
Cricbuzz has gathered that the initial response to the sponsorship tender hasn't been particularly encouraging. However, there is still some time left for interested parties to purchase the Invitation to Tender (ITT) document and participate in the bidding process. Given the IPL's status as one of the premier leagues globally, it is anticipated that a reputable firm will come on board at a favorable price.
The ITT document, which is a prerequisite for participating in the bidding, will be available for purchase until January 8. The bidding process is expected to take place around January 13-14.
The need for a new title sponsor arose as the previous deal with the Tata Group concluded after the last season
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