Indian Cricket Board seeks title sponsor for IPL, set to exclude Chinese brand

The Indian Cricket Board is seeking title sponsors for the upcoming edition of the Indian Premier League, which is slated to take place from March to May next year. However, the Indian Cricket Board has set the condition this time, as they are not looking to entertain any Chinese companies or brands to sponsor the upcoming edition of the IPL.

However, some reports claim that the Board is also looking to ignore the companies with which India does not have any close relations. According to sources, the Cricketing Board is not yet confirming the Chinese brand Vivo from the next edition of the Premier League. Meanwhile, Cricbuzz reports that the Indian Cricket Board is also rejecting bids from companies that closely work with fantasy games, sportswear, trading, or cryptocurrency.

However, the previous contract with the Tata family ended during the previous season, mandating the search for a new title sponsor for the IPL 2024. According to sources, the upcoming sponsorship agreement is expected to last for five years, up to 2028. In addition, the amount that the Tata Group was investing for the first two seasons is in agreement with the reserve price of Rs 360 crore.

Check the conditions of the Indian Cricket Board for the upcoming IPL

“Each bidder which is a corporate entity must not be incorporated in a jurisdiction/territory with which India does not have a friendly relation. In the event, that any corporate(s) which is a shareholder or a proposed shareholder in the Bidder is incorporated in a jurisdiction/territory with which India does not have friendly relations, the Bidder will be required to provide a detailed chart of the shareholding in such Bidder or it ultimate Parent Company and the details of ultimate owners/beneficiaries of all shareholders which are body corporate in such Bidder or its ultimate Parent Company along with the Bid Documents as a material obligations,” the statement read as is quoted by Cricbuzz.

“Bidders operating/engaged directly or indirectly in athleisure, performance wear and sportswear will not be eligible, says the ITT,” the statement reads further.