The Board of Control for Cricket in India (BCCI) on Tuesday invited bids only from “reputed firms” for the lead sponsorship rights of both the men’s and women’s cricket teams.
The Expression of Interest document was made available to interested parties on Tuesday, September 2, and the deadline for the submission of bids has been set for September 16. If the proceedings don’t move ahead at a fast pace, it is looking more likely that the Suryakumar Yadav-led India will play without a lead sponsor in the Asia Cup, following the exit of Dream11.
The women’s cricket team is also slated to compete in the World Cup later this month, and it remains to be seen whether the board can land a lead sponsor before the competition starts on September 30 in Guwahati.
Dream11’s association with the Indian cricket board concluded after the online money gaming platform pulled out of its three-year contract. This followed the government’s ban on real-money gaming platforms through the newly introduced Promotion and Regulation of Online Gaming Act.
According to the release issued by the BCCI, the Expression of Interest for National Team Lead Sponsor Rights will be made available on receipt of payment of a non-refundable fee of INR 5,00,000 plus any applicable Goods and Services Tax.
What is the elibility criteria?
The BCCI has banned crypto and online gaming platforms from applying for the lead sponsorship rights. The board has also made it clear that only those companies can apply who have a yearly turnover of more than INR 300 crore.
“The average turnover of each bidder for the last 3 (three) years must be at least INR 300,00,00,000 (Indian Rupees Three Hundred Crore only) as per the last 3 (three) audited accounts or the average net worth of each bidder for the last 3 (three) years must be at least INR 300,00,00,000 (Indian Rupees Three Hundred Crore only) as per the last 3 (three) audited accounts.,” the BCCI release states.
The BCCI also made it clear that any bidder who is interested in applying for the sponsorship rights should not be “engaged in online money gaming, betting or gambling services or similar services in India or anywhere in the world.” He or she should also not “provide any online money gaming, betting or gambling services or similar services to any Person in India and should not have any investment or ownership interest in any Person engaged in betting or gambling services in India.”
The BCCI has also barred cryptocurrency companies, alcohol companies, and tobacco companies from the bidding process.
Earlier, the BCCI secretary had made it clear that the board would no longer associate itself with the real-money gaming platforms.
“Our stand is very clear. With government regulations in place, the BCCI cannot continue its sponsorship relationship with Dream11 or any such other gaming company. Under the new restrictions, there is no scope, and we are facing a roadblock with Dream11,” India Today quoted Saikia as saying.