New Delhi: The Board of Control for Cricket in India (BCCI) is yet to find the title sponsor of the Indian cricket team for home matches, as not much interest has been shown in acquiring the rights due to the steep pricing.
The Indian Board either did not receive bidders for the rights, or they were not up to expectations, despite the deadline for bid submission being kept to August 13. The BCCI had released the invitation on July 20, with the last date for ITT document purchase August 4.
The BCCI kept the last date to seek clarifications to August 5.
The Board is in talks with potential sponsors, with Google Gemini emerging as one of the brands involved in discussions. Spinny and SBI Life are apparently in conversation too.
BCCI’s current rights holder – IDFC First Bank – pays a sum of Rs 4.2 crore per match, but the increased base price kept at Rs 4.75 crore seems to be the thorn in the flesh for a potential deal. The invited deal was for two years, down from the three that the IDFC Bank got in 2023. The Indian Board had confirmed in its ITT that it expects the holder to host nearly 35 matches.
“For tendering purposes only, and without constituting any representation, warranty, commitment or minimum guarantee by BCCI, BCCI presently expects that it may host approximately 35 (thirty-five) chargeable matches during the Rights Period, subject always to the final schedule determined by the BCCI in its sole and absolute discretion,” Cricbuzz mentioned BCCI as saying.
There have been a few potential sponsors who submitted for the ITG property, which was kept at Rs 1 lakh as a non-refundable amount. GroupM, ITW and Sporty Solutions have reportedly bought the document.
Moreover, the Indian Board had also released the Request for Quotation (RFQ) for the Associate Partner Rights for BCCI events. The brand that buys the title sponsorship rights can’t purchase the Associate Rights, and the latter will only be confirmed once the title sponsor has been locked. The deadline to purchase the RFQ was August 14, with the last date to seek clarifications being August 16. The last date of submission for the quotation documents was kept as August 25.
