IPL 2021: Vivo leaves its title sponsor title IPL, Unacademy and Dream 11 in the race.
Indian Premier League (IPL) 2021: The cash-rich league title sponsor has remained a major concern for BCCI since last year, after the Chinese smartphone brand withdrew from the IPL title sponsorship days before the IPL 2020 opens.
The IPL still does not have a main sponsor and it is likely that the IPL 2021 auctions will take place without the main sponsor and this will be the first time that the auctions have taken place without the sponsor.
With the political divide between the two nations still unresolved, Chinese smartphone brand Vivo is unlikely to remain the main sponsor. The release of Vivo will allow other brands to want to join forces with BCCI and IPL.
Indian educational brands Unacademy and Dream11 are still in the race to become the title sponsor. Dream11 sponsored the IPL last season after Vivo withdrew from the deal.
According to the report in Outlook India, Vivo is looking to transfer the title sponsorship to another company amid divisions between the two countries.
“As relations between Indochina are unlikely to improve anytime soon, Vivo clearly wishes to ‘cede’ their rights to any company willing to pay a fair price” said the source.
“It is almost final that Vivo is leaving the IPL title sponsorship agreement by mutual consent with the board of directors. He has been suspended for the 2020 edition. However, there is a clause that allows them to transfer their outstanding responsibilities as sole title sponsors to the new winner. If the board agrees in principle, it can happen. “
Unacademy and Dream11 will contact Vivo for the agreements in order to assign him the role of main sponsor.
“Look, Vivo paid around ₹ 440 crore (₹ 2190 crore for 5 years). Now, if BCCI launches offers, just like last year when Dream11 paid ₹ 222 crore, it could go up but cannot be doubled. But if there is a transfer of rights, the old amount could be equaled or even improved ”. said the source.
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