Mobile manufacturing company Vivo, which had suspended its IPL title sponsor rights for the 2020 edition, sees an exit from the Indian Premier League by transferring its rights to interested bidders, which may include the fantasy gaming platform Dream11 and the edu-tech start-up up Unacademy. Dream11 was the IPL title sponsor for the 2020 edition, winning the rights for Rs 222 crore, which was almost half (Rs 440 crore) of what Vivo paid annually for a five-year deal. Clearly, in the prevailing situation where the geopolitical relations between China and India are in a sensitive state, Vivo understands that it is not wise to continue the association with two more years to go.
“It is almost final that Vivo is leaving the IPL title sponsorship agreement by mutual consent with the board. It was suspended for the 2020 edition,” a senior BCCI source told me. PTI on conditions of anonymity.
“However, there is a clause that allows them to transfer their ongoing obligations as one-time title sponsors to the new winner. If the board agrees in principle, it can happen.”
With the IPL set for an expansion of 9 or 10 teams by 2022, the new bidder is expected to receive at least three-year title sponsor rights.
“Dream11 and Unacademy will place their bid for Vivo. Unacademy is in any case an associated sponsor and they are willing to offer a higher amount to acquire the rights of Vivo,” said an insider who follows developments in the industry. .
It has been learned that MPL, the Indian team’s kit sponsors, may not be able to bid for title sponsorship as Dream11 has been a title partner and what they call “category exclusivity” in the sponsorship word.
BCCI buyer expects that a clearer picture can emerge by the weekend once Vivo gets a concrete final offer.
Look, Vivo paid about Rs 440 crore (Rs 2190 crore for 5 years). If BCCI now invites bids, as it did last year when Dream11 paid Rs 222 crore, it could increase but cannot be doubled. the old amount can be matched or even improved, “said the source.
The IPL has a mini-auction in Chennai on February 18 with a maximum of 61 slots up for grabs.
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