The Board of Control for Cricket in India (BCCI) is confident of beating market estimates and springing a surprise when the bidding for IPL’s title sponsorship takes place between 11am and 1pm on Tuesday.
According to The Telegraph’s sources, the BCCI hopes to match Vivo’s Rs 440 crore annually from this year’s title sponsorship.
The Tata group, which has submitted its ‘expression of interest’, remains the favourite while digital education platforms Byju’s and Unacademy are considered serious contenders.
Fantasy sports platform Dream 11, Ramdev’s Patanjali and Reliance’s Jio Communications are also in the fray.
The BCCI has made it clear that it may not award the rights to the highest bidder.
“BCCI has received very positive responses and the brand value of IPL can’t be discounted... As far as sponsorship money goes, there will be very little loss,” a source said.
“Most companies are willing to spend big money since the IPL will be held during the festive season for the first time and that could trigger a spurt in demand,” the source maintained.
Meanwhile, the Supreme Court case relating to extension of tenures for BCCI president Sourav Ganguly and secretary Jay Shah didn’t come up for hearing on Monday since it wasn’t listed.