DLF, which entered the fray only on Tuesday along with World Sports Group ( and Percept D'Mark (PDM), will sponsor the tournament for five years at an annual cost of Rs 40 crore. Till Monday, the only bidder was 21st Century Media but it pulled out the last moment refusing to divulge the product segment it would promote.An IPL spokesperson said one of the pre-qualifications for bidding had been submitting the product category. "21st Century Media was not ready to divulge that, so they pulled out,"The base price of the bid was set at Rs 23.6 crore by the BCCI and DLF outbidded WSG and PDM at the meeting held in Mumbai."The title sponsorship race was tightly contested between three participants with DLF emerging the final winner through a fair and transparent process," IPL chairman Lalit Modi told reporters.The BCCI had initially asked bidders to hand in a performance guarantee deposit of Rs 10 crore by Monday but was forced to extend it by a day when it found only one company in the fray.
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