New Delhi: Board of Control for Cricket in India (BCCI) on Monday (August 10) invited expressions of interest (EOI) in acquiring the title sponsorship rights for Indian Premier League 2020 (IPL) to be held in the United Arab Emirates from September 19, 2020, to November 10, 2020, according to an official statement.
The Rights are available for the period from August 18, 2020, to December 31, 2020. The turnover of the interested third party must be over Rs 300 crores as per the last audited accounts, said BCCI statement
“Details regarding the Rights and product categories in which the Rights are available will be provided only to parties who submit the EOI and are found eligible, said BCCI, adding “The turnover of the interested third party must be over Rs 300 crores as per the last audited accounts.”
Interested third parties (excluding marketing agency/agents) wishing to acquire any of the Rights should submit an EOI in the manner prescribed below. For the avoidance of doubt, it is clarified that marketing agency/agents are not eligible to bid and any bid submitted by a marketing agency / agent shall be rejected at the outset, said the statement issued from the office of Jay Shah, who is honorary secretary of BCCI.
According to BCCI, each EOI should:
-Contain the full name and address of the relevant third party; and
-Indicate the product category or product categories in respect of which the third party is interested of being appointed as a Title Sponsor for IPL 2020; and
-Provide last audited accounts evidencing a turnover of Rs 300 crores.
Other key details of the statement are:
1. The Rights and the product categories will be discussed after the delivery of EOIs, with each third party having submitted an EOI, and to clarify, third parties need not include any indicative level of fees for acquiring the Rights in their EOIs. The final bid will be submitted in accordance with the procedure prescribed in clause 13 below.
2. Neither the publication of this document nor any part of its content is to be taken as any form of offer capable of acceptance or any commitment or acknowledgment on the part of BCCI to proceed with any EOI of any third party and BCCI reserves the unfettered right not to grant any or all of the Rights without giving any reasons.
3. For the avoidance of doubt, it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates a willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI.
4. BCCI’s decision in this regard will also depend on a number of other relevant factors, including but not limited to, the manner in which the third party intends to exploit the Rights and the potential impact of the same on-brand IPL as also the fan/ viewer experience, which will be examined/ evaluated by BCCI in the course of discussions/ negotiations with interested third parties who submit an EOI.
5. The grant of the Rights shall be conditional upon the relevant third party entering into a binding agreement with BCCI (standard BCCI template of the agreement), the form of which will be sent by BCCI to the relevant third party.
6. No legally binding obligations shall be assumed by or imposed on BCCI or its nominated representatives in connection with this document and its subject-matter, and none of the Rights shall be granted until such time as a binding agreement is entered into by BCCI and any relevant third party.
7. Neither BCCI nor its officers, employees and/or agents shall, in any circumstances whatsoever, be responsible or liable in any manner or mode by whatever name called or described for any costs, liabilities, losses, damages or expenses of any kind whatsoever incurred or suffered in connection with this document or as a consequence of the preparation or delivery of any EOI.
8. All matters in relation to this IEOI or the process shall be governed by the laws of India, without reference to its conflict-of-law principles and any disputes shall be subject to the exclusive jurisdiction of the courts at Mumbai, India.