The Board of Cricket Control of India had announced that they were in search of a local organization as the title sponsor for 2020 IPL in substitute of the Chinese brand, Vivo. The rights earlier were captured by the smartphone brand Vivo for an annual charge of Rs. 438 crore. The IPL tournament 2020 is scheduled from 19th September to 10th November in the United Arab Emirates.
Mr. Brijesh Patel, IPL Governing Council informed ANI, “Dream 11 has won the title sponsorship for INR 222 crore”
Why has Vivo been replaced?
One of the most strong and chief reasons for replacing Vivo is #vocalforlocal i.e. to have a local sponsor for India’s richest sports competition.
Another fact stressed by BCCI was, “Dream11, essentially, is an Indian startup with a single-digit Chinese investment that is negligible and can be resolved internally”.
Fantasy sports platform Dream11 also made it clear that if Vivo doesn’t come back in 2021, they would be keen on extending the sponsorship rights for Rs. 240 crore.
The BCCI believes, with a digital platform getting engaged in the organizing team, more fans would be attracted as most have been lying low due to the pandemic.
What other companies were a part of the sponsorship race?
Reliance Jio, Tata Group, Unacademy, and Patanjali were a few local brands that were racing for the 2020 IPL sponsorship. According to reports, even Byju’s had placed the bids.
Amazon had initially exhibited interest but no reports of it entering the bids have been noted.
There has been speculation of the board bringing Unacademy and Cred as the two more official partners.
To add BCCI has suspended Vivo’s sponsorship contract for at least a year because of the Indo-China border dispute.
BCCI’s take on the financial aspect…
“I wouldn’t call it a financial crisis. It is just a little bit of a blip, commented BCCI president, Sourav Ganguly.
He further added, “BCCI, it’s a very strong foundation – the game, the players, the administrators in the past have made this game so strong that BCCI is able to handle all these blips”.
What was expected from the bidders?
The BCCI had invited EoI (Expression of Interest) on 10th August for the title sponsorship of the 13th edition of IPL. The deadline decided was 18th August at 1:00 pm.
According to the EoI document the bidder was supposed to have the turnover of at least Rs. 300 crore in the last financial year.
BCCI was expecting the value for rights to be in the Rs. 200 – Rs. 220 crore group. Earlier they had made it clear that the rights didn’t need to be sold to the one with the highest bids.
Another big achievement for IPL Sponsorship this year…
This year IPL has also validated a sponsorship deal with a sanitary pad brand. Ben Stokes and Jofra Archer stated that the move will “help educate men… on a grand scale”.
In addition to this, the Niine logo would be printed on the back of the jerseys of the players for this particular tournament. The Rajasthan Royals also vocalized, “Cricket undoubtedly is the most-watched sport in the country and provides the perfect platform to address health and drive social change”.