BCCI all set to launch a search for new title sponsor for the IPL
The IPL Governing Council is all set to meet in Delhi on May 5 to get the process under way.
Published - Apr 29, 2017 1:21 pm | Updated - Apr 29, 2017 1:21 pm
The Board of Control for Cricket in India (BCCI) will officially launch a search for a new title sponsor and an event manager for the Indian Premier League. The IPL Governing Council is all set to meet in Delhi on May 5 to get the process under way. The council will also take a decision on the media rights during the meeting.
The GC has three important points on its agenda. The Council will make important calls on the title rights, event rights and media rights. The contracts with the current holders of the existing rights will end as soon as the ongoing season of the IPL is complete. Therefore, the BCCI will have to begin their search for a new set of sponsors and right holders.
This time around, the unanimous decision is to sell the media rights for a period of five years, as opposed to ten. The previous BCCI dispensation had planned to sell the media rights for ten years, which will terminate as soon as the 10th edition of the IPL comes to an end.
The current set of office-bearers has also given a nod to the proposition that the rights should be of five years. However, they think the marketing committee of the BCCI should handle and initiate the process.
Sony is the current holder of the media rights. Sony Max has been broadcasting the IPL since its inaugural season in 2008. With the advent of Sony Six, both channels now broadcast the tournament.
The BCCI will also need to look for a new title sponsor since the deal with Vivo ends this year. The mobile firm from China came on board for a two-year contract when Pepsi pulled out after IPL 8. The GC will make a decision on the required benchmarks and requirements for the new sponsor. However, it has been stipulated that the duration of the new deal should not exceed five years.
The contract with event managers IMG (International Management Group) will also terminate this year. IMG have been behind conceptualizing, creating and executing the grand spectacle that is the IPL and has been with the tournament for all 10 years. However, this time around, they will have to bid for the rights along with several other competitors.