Contenders Of IPL Sponsorship Has Been Eyeing A Bid For The Scaled-Down Title After The Exit Of Vivo

 

Image Credit – Times Of India

 

In only less than 24 hours left, the title sponsors of the India Premier league Vivi India has severed relations with the season’s edition for the year 2020. They have parted ways by keeping the window open so that they can return for the edition slated to take place next year. As of now, potential replacements are eyeing a particular opportunity.

It is Amazon, the eCommerce giant that has got an eye on the festival season for India between Dussera and Diwali that is going to take place between October and November. Some other companies are also on the fray like Byju which is a popular learning app and also the jersey sponsor for Team India that who have missed out on a great deal this year already related to Indian Cricket. Dream 11 that is a fantasy sports platform that has also got the budgets are already the official partner of IPL and is among the big names who are looking for an opportunity in this year’s edition.

On Thursday afternoon, a short statement has been sent out by the BCCI that has already confirmed the exit of Vivo. The BCCI has also hinted at the return of the mobile manufacturer for the season of IPL next year and they have said that their return could not be ruled out as of yet.

According to estimates made by the industry, it also cannot be ruled out that at the same value, a replacement could be coming your way. They have further added that in all possibility, it is going to be a win for the BCCI even if they are going to get a title sponsor at a value that is one-third of the previous one and both the official partners can make up to an extent for the pool. Vivo’s pool of 440 odd crores is expected to scale down around Rs 180 crore, and one has to keep in mind the fact that it is going to be a win for the BCCI as far as this market is concerned.

The direct competitor of Byju, Unacademy is very much looking to get into the Indian Premier League as one of the official partners as of now for a few months before the setting in of Covcid-19. Another fantasy sports platform called MyCircle11 who is also a direct rival of Dream 11 also had shown an interest quite similar to this one. Once again, they are also looking at this window; they have Dream 11 and Byju to contend with one another.

Until December, there will be no bilateral cricket, or any ACC or ICC event, a great deal of visibility has been lost out by Byju after they have opted to replace the Rs. 1079 crore deal by Oppo last year. According to sources, The BCCI is on the lookout for partners today. If it is decided by Byju to support the IPL today, and the jersey sponsorship numbers are reworked once again in going forward with it, it is very much going to be a win for BCCI and also them who are vying for it.

On the other hand, the official partner of IPL, Dream 11 has already guaranteed Rs. 40 crores per season. They are perceived as the perennial contenders in the market for sponsorships because the visibility is very much core to the business. Nevertheless, if Dream 11 should enter as one of the title sponsors, it is expected of BCCI to be paid another Rs 40 crore by the gaming platform than whatever the amount of the title bid is going to be so that they can make up for what they have paid as the official partners unless it is managed by the IPL to find an alternate partner almost at the same price.

BCCI will have to be wary of the fact that Byju and Dream 11 are direct competitors in this particular space and have been showing up with their keenness.

Although, the leading contender remains to be Amazon only as the e-commerce giant has refrained from stepping into ground sponsorship space and title in any sport. Nevertheless, this is going to be the season for Dussera and Diwali and IPL being one of the key properties, the e-retail company is not going to shy away and is not going to mind to make the pitch according to sources.

The IPL’s move to UAE has been cleared by the Centre. A letter of intent is given to the Emirates Cricket Board by BCCI and the dates have been confirmed for the edition this year as the official approval by the government is still to come. According to sources, the said letter has been sent by the Ministry of External Affairs to BCCI this Thursday. It has made the move very much official.

Jerry Simmons

I am Jerry Simmons and I focus on breaking news stories and ensuring we (“Digital Wall”) offer timely reporting on some of the most recent stories released through market wires about “Financial” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Digital Wall specializing in quicker moving active shares with a short term view on investment opportunities and trends. <strong>Address:</strong> 4042 Braxton Street, Sterling, IL 61081, USA <strong>Phone:</strong> (+1) 815-535-4324 <strong>Email: </strong>jerry.simmons@yourdigitalwall.com

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    In only less than 24 hours left, the title sponsors of the India Premier league Vivi India has severed relations with the season’s edition for the year 2020. They have parted ways by keeping the window open so that they can return for the edition slated to take […]

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