Breaking! Indian Cricket Board releases tender invitation for title sponsor rights for IPL 2024

In a recent piece of news, the Indian Cricket Board released the invitation to Tender for Title Sponsor Rights for the Indian Premier League. This tender will be active for the cycle of the next 4 years across five seasons from the Indian Premier League 2024 to the Indian Premier League 2028.

“The detailed terms and conditions governing the tender process including eligibility requirements, the process for submissions of bids, rights and obligations, etc. are contained in the ‘Invitation to Tender’ (“ITT”) document which will be made available on receipt of payment of a non-refundable fee of INR 5,00,000 (Indian Rupees Five Lakh Only) plus any applicable Goods and Services Tax. The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till January 8, 2024,” read the official statement of the Indian Cricket Board through a media release.

“Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out there shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid,” the statement adds further.

IPL 2024 mini-auction to be held within a week

Apart from this, the mini-auction for the upcoming Indian Premier League 2024 is set to be held next week on Tuesday, December 19, 2023. The stage is set for the registered players in the auction, for whom the 10 participating teams will contest during the auction.

The teams already released the list of their retained and registered players ahead of the mini-auction for the next edition of the tournament. Some of the big names, including the World Cup-winning  Australian skipper Pat Cummins will also be available in the auction, who might get a big bid from the participating teams.