The BCCI is yet to finalise its deal with VIVO as the title sponsors of IPL 2021. Though the board listed VIVO in the as the title sponsor in their IPL Auction list press release on Thursday (February 11), the two parties are yet to come to an agreement. As per Cricbuzz, the agreement with the Chinese mobile brand is only temporary and is awaiting a final agreement. The IPL will carry the name of Vivo as its title sponsor till at least the auction on February 18.
The deal between VIVO and the BCCI was paused last year with tension at the Indo-China border. Cricbuzz further understands that the fantasy games company is no longer keen to come on board again. IPL chairman Brijesh Patel, Vivo and Group M declined to comment.
Final Decision Upto VIVO: BCCI Official
“We have been told that it will be called Vivo IPL till the auction as per the original agreement. The previous agreement was paused only till December 31 last year. So the original agreement has kicked in from January 1. Till an alternative arrangement has been made, the brand name will remain,” said a franchise official.
Another official added, “The BCCI is going by the book and is extending all the benefits to Vivo. It is now up to Vivo. Whether or not it is interested, it still will have to pay up.”
Meanwhile, the BCCI has made it clear that the franchises must spend 75 percent of the total salary cap of Rs 85 crore in the IPL 2021 auction on February 18.
“Franchisees are reminded of the IPL squad rules with respect to a minimum (18) and maximum (25) squad size, minimum squad spend (Rs 63.75 crores) and the maximum number of overseas players in the squad (8) which are referred to in Sections A and E of the Player Regulations” said the BCCI in a letter to all the franchisees.
Meanwhile, if a team spends only 60 crores, the BCCI will take away Rs 3.75 crore from that franchise.
This article is auto-generated by Algorithm Source: cricfit.com
