Vivo could be the last Chinese company to be associated with Indian Premier League. As BCCI has floated a tender for IPL Title Sponsorship rights for five years, Chinese companies are not welcome as per reports. IPL 2024 will mark a new beginning after Tata’s contract ended with IPL 2023. The reserve price for the bid is Rs 360 crore per year.
In the ITT document (Invitation to Tender), BCCI has hinted that only companies from nations that are not friendly with India are not welcome to bid for IPL title sponsorship rights.
“Each bidder which is a corporate entity must not be incorporated in a jurisdiction/territory with which India does not have a friendly relation,” the ITT document reads as per Cricbuzz.
The guidelines further added that in case the companies are associated with nations India is not friendly with, they have to provide additional documents.
“In the event, 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 document added.
Why no Chinese brand?
The diplomatic ties between India and China have soured in recent times due to border disputes. With frequent clashes in border regions, there has been an anti-China sentiment in India. Vivo held the IPL title sponsorship rights from 2016 to 2021. But the Chinese smartphone manufacturer opted to transfer the rights to Dream11 in 2020. They did return for one more year but with the negative sentiment around Chinese brands, Vivo transferred the rights to Tata for the last two years.
Apart from Chinese companies, BCCI has also banned Fantasy Gaming and cryptocurrency companies from bidding for the IPL title sponsorship rights.
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