The BCCI, India’s cricket governing body, has opened up the hunt for a new main sponsor for the Indian cricket team. On Tuesday, the BCCI announced they are inviting bids from companies interested in becoming the team’s lead sponsor. This move comes after their previous deal with fantasy sports giant Dream11 ended.
If your company wants to get involved, you need to act quickly. The BCCI has shared a detailed plan called the ‘Invitation for Expression of Interest’ (IEOI). This document explains all the rules and guidelines for submitting your bid. To buy the IEOI form, you must pay a non-refundable fee of Rs 5 lakh plus applicable GST. The last day to purchase these documents is September 12, and the deadline to submit your bid is September 16.
In the past, Dream11 signed a three-year sponsorship deal worth Rs 358 crore with the BCCI in July 2023, replacing Byju’s as the main sponsor. However, the partnership ended last month after new online gaming laws were passed in India. Now, the BCCI is looking for a new sponsor to support Indian cricket’s growth and visibility.
Bidders interested in the sponsorship opportunity must meet certain criteria. These include having an average annual turnover of at least Rs 300 crore over the past three years or a similar net worth. They also need to be ‘fit and proper,’ meaning no criminal convictions related to fraud, morality, or economic offenses. Additionally, companies involved in online betting, gambling, or cryptocurrency are not eligible to bid, according to the new laws.
The BCCI has also set clear rules to prevent bid manipulation. Only companies that purchase the IEOI document can participate, and the documents won’t be shared until their payment is confirmed. Any company trying to submit a bid through fake or surrogate brands will be disqualified.
Certain brands and sectors are off-limits for sponsorship, including alcohol, gambling, cryptocurrency, tobacco, and content that could offend public morals. Current sponsors in categories like sportswear, banking, beverages, and insurance are also restricted from bidding in those same categories.
Overall, this is a big opportunity for companies to brand themselves with Indian cricket’s massive presence. The BCCI is keen to find a sponsor that aligns with its reputation and future goals. If your company fits the criteria and is interested, make sure to submit your bid before the deadline!
Stay tuned for updates on India’s cricket sponsorships and how businesses can get involved in supporting Indian cricket.
