The Board of Control for Cricket in India will open the tender process for allocating the title sponsorship rights of Indian Premier League for the next five-year cycle on May 31. Mobile company VIVO’s sponsorship rights ends with the 2017 edition of the tournament.

The IPL governing council met to finalise the timelines of various tender processes on Saturday. Members of the Committee of Administrators (CoA) Vinod Rai, Vikram Limaye and Diana Edulji were present in the meeting, besides the office bearers, reported PTI.

Apart from the title sponsorship rights, the Request for Proposal (RFP) for IPL Event Services contract will be floated on June 12 and the IPL Media Rights Invitation to Tender will start from July 17. All the three processes are for the next five-year cycle.

“I’m pleased that both the governing council and CoA members have finalised the timelines for the next rights period. If the success of 2017 season is an indication, I believe we will be able to get the best value and service for the world’s premier Twenty20 extravaganza. The early announcement will also help the prospective bidders/service providers to prepare well,” IPL chairman Rajeev Shukla was quoted as saying.

Vinod Rai, the chairman of the court-appointed CoA said, “I’m confident about the process and would like to assure all prospective participants the highest level of transparency and accountability.”

The final of the ongoing tenth edition of the IPL is on Sunday at Hyderabad between Mumbai Indians and Rising Pune Supergiant.