"The name of the highest bidder will be announced on August 18," IPL Chairman Brijesh Patel told Moneycontrol.
The sponsorship saga for the Indian Premier League (IPL) has entered the final stage with the Board of Control for Cricket in India inviting Expression of Interest (EoI) for the title sponsorship. BCCI was forced to take this measure after Vivo decided to pull out of its sponsorship agreement for this year's edition.
In the invitation for Expressions of Interest (EoIs) posted on the IPL website, BCCI said the turnover of interested third-parties must be over Rs 300 crore as per their last audited accounts.
"Each EoI must be delivered by email to the following address: eoi@bcci.tv with the following subject line "EOI for Title Sponsor for IPL 2020" and must be received by 5.00 pm on August 14. Any EOIs received after this deadline will not be considered unless BCCI decides otherwise at its sole discretion. Post-delivery of the EOI, BCCI shall inform the rights, product categories and entitlements to the interested third parties. The final bid should be sent to eoi@bcci.tv between 11 am to 1 pm on August 18, 2020. The above time schedule is subject to revision by BCCI at its sole discretion." BCCI posted on its website.
Reports suggest that Patanjali Ayurved and Amazon are in the fray to bag the sponsorship rights for 2020. However, experts feel BCCI will have to settle for way less than the Rs 440 crore that Vivo was slated to pay.
Earlier, the BCCI informed that it has received government's approval for staging the matches in the United Arab Emirates.
The IPL will be held in UAE from September 19 to November 10.
(Please note: The copy has been updated with details of the EOI posted on the official website of the Indian Premier League)
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