Our Bureau
Mumbai
After the exit of Dream 11 as the sponsor of the Indian Cricket Team, the Board of Control for Cricket in India (BCCI) has been looking for a new sponsor. However, the reports that have come out have stated that sponsoring Team India will cost the parties interested more than they expect.
As per the reports, there have been certain changes for the next lot of sponsors. Earlier the reserve price was Rs 3.17 crore for bilateral games and Rs 1.12 crore for multilateral matches but the BCCI is now looking for an increase of valuation by 10% in bilateral games and 3% in multilateral games. After this increase in valuation the new reserve price will be Rs 3.5 crore for bilateral matches and around Rs 1.5 crore for multilateral fixtures.
It has also been reported that as per the new prices the BCCI can earn well over the Rs 400 crore. The report stated, “Based on the revised base price, the board could potentially earn more than INR 400 crore. The final figure could be much higher, of course.”
This Tuesday, on September 2nd, the BCCI invited bids from parties who want to become the lead sponsor of Team India. The board announced the release of an Invitation for Expression of Interest (IEOI) which will be made available after a payment of Rs 5 lakh plus any applicable GST and will be available till September 12th while the last day of submission being September 16th.
“Any bidder wishing to submit a bid is required to purchase the IEOI. However, only those satisfying the eligibility requirements set out in the IEOI and subject to the other terms and conditions set out therein shall be eligible to bid. It is clarified that merely purchasing the IEOI does not entitle any person to bid,” the board stated in a release.
