The Indian Cricket Board has incorporated stringent guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies that will hold 8 opening ceremonies during the first match of all the eight franchises including the closing ceremony in Hyderabad.
To maintain the transparency and probity that has always been questioned during all editions of the IPL, the new guidelines require the interested parties to be companies with Rs 30 crore annual turnover, ready to pay bank guarantee of 35 percent and with no criminal record.
After the Committee of Administrators (COA) took over, the stress has been on transparency and the first steps towards attaining that is being taken after the issuing of RFP.
The Board has made it clear that the contract will only be given to companies with expertise in Event Management.
Few Guidelines Loosely for Interested parties
1) The successful interested party has to bear all costs of hosting 8 opening ceremonies (at 8 venues) and closing ceremonies.
2) Irrevocable and Unconditional Bank Guarantee of 35 percent of the Budgeted Costs within five working days from counter-execution of Staging Agreement.
3) Each Interested party's recent audited accounts should show an annual turnover of Rs 30 crore
4) No person criminally convicted or being guilty of Conflict of interest should not be associated with interested parties
5) Furnish details of any company or corporate entity related to interested party with its business ventures in Mauritius and British Virgin Islands.
6) Interested parties will be called for presentation at BCCI headquarters on March 1.
7) Interested parties invited will be given 45-minute time for video demonstration of their plans for the opening ceremony.
8) The announcement will be made on March 1