Mumbai, Dec 12 : The Board of Control for Cricket in India (BCCI) has announced the release of Invitation to Tender for Title Sponsor Rights for the Indian Premier League (IPL) Seasons 2024-2028. "The Governing Council of the Indian Premier League (IPL) invites bids from reputed entities for acquiring the Title Sponsor Rights for the Indian Premier League Seasons 2024-2028," it said in a statement on Tuesday. "The detailed terms and conditions governing the tender process including eligibility requirements, process for submissions of bids, rights and obligations, etc. are contained in the 'Invitation to Tender' ('ITT') document which will be made available on receipt of payment of a non-refundable fee of INR 5,00,000 (Indian Rupees Five Lakh Only) plus any applicable Goods and Services Tax." The procedure to procure the ITT documents is enlisted in Annexure A to this notice. The ITT will be available for purchase till January 8, 2024. "Interested parties are requested to email the details of payment made for the purchase of the ITT to ipltitlesponsor2023.itt@bcci.tv, as per the procedure laid down in Annexure A. It is clarified that the ITT documents shall be shared only upon the confirmation of payment of the non-refundable ITT fee. "Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein, shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid," the statement read. "The attention of the interested parties is brought to Annexure B which details certain brand categories in which the interested party cannot bid. The interested parties are further informed that the highest bid submitted by the parties shall be subject to Tata Sons Private Limited exercising its 'Right to Match' such bid ('RTM'). The details of the RTM are provided in Annexure C." BCCI reserves the right to cancel or amend the bidding process at any stage in any manner without providing any reason, it added. /IANS