Indian Premier League sponsorship: Effect of Vivo’s exit
The Board of Cricket Council India has decided to increase its partners from 3 to 5. They are trying to add two partners at an average commitment of 40cr each.
After all the things happening this year and a big announcement of Vivo’s exit. The Board of Cricket Council India has decided to increase its partners from 3 to 5. They are trying to add two partners at an average commitment of 40cr each. Aiming to raise 300cr for this year’s matches.
While Chinese companies are not considered for this year and causing 450cr to deflect in the sponsorship market, industry executives insist “it is now a matter of prestige for India Inc to show that its most valuable property – Indian cricket – can sustain”.
Vivo committed to pay the Board of Cricket Council India approx 440cr rupees for five years after making a deal in 2018 but find itself out this year due to some factors. the board will succeed in making 300cr which is approx 3/4th of the total before Vivo’s exit.
Some sources say that BCCI has received promise form the e-learning app Unacadmy and credit card payment platform cred to come aboard as official partners.
This year we can assume that Byjus and Unacademy will go for title sponsorship of IPL.
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