Home SportsCricket Dream11, Unacademy Frontrunners In Race For IPL 2021 Sponsorship After VIVO Certain To Exit

Dream11, Unacademy Frontrunners In Race For IPL 2021 Sponsorship After VIVO Certain To Exit

IPL 2021 Auction: Complete List Of Players Released And Retained By All IPL Franchises And Their Remaining Purse Value

Chinese smartphone company, VIVO has all but confirmed to end its title sponsorship deal for the Indian Premier League (IPL) with the Board of Control for Cricket in India (BCCI) due to political tensions between the governments of India and China.

Last season, VIVO pulled out just weeks before the IPL 13 was about to commence. BCCI welcomed new bidders and with a Rs 222 crore bid a fantasy sports platform, Dream11 (Sporta Technologies Pvt. Ltd)  was announced as the new title sponsor for IPL 2020, which was scheduled in the UAE due to the severe situation of the covid-19 pandemic in India.

While VIVO had a 5-year deal with the BCCI, which started with the IPL 2018, having paid BCCI 363 crores in 2018 and 400 crores in 2019, the smartphone company is looking to transfer the remainder of its contract to another company who would offer them a fair price.

IPL, IPL 2020
IPL 2020 [Photo-IPLT20]

“With Indo-China relationship unlikely to get better anytime soon, Vivo clearly wants to ‘assign’ their rights to any company willing to pay a fair price,” said the source in the report.

“It’s almost final that Vivo will exit the IPL title sponsorship deal by mutual consent with the board. It was suspended for the 2020 edition. However, there is a clause that allows them to transfer their pending liabilities as one-time title sponsors on the new winner. If board agrees on principle, it can happen,” a BCCI official told PTI.

Dream11, Unacademy to present their offers; MPL not allowed to bid for title sponsorship for IPL 2021

The official also said that while Dream 11 and Unacademy are the lead contenders to bag the deal, another company, Mobile Premier League (MPL), which is an e-Sports platform, would not be allowed to bid for the title sponsorship as its direct rival, Dream11, has been a title sponsor.

“Dream11 and Unacademy will place their offers to Vivo. Unacademy in any case is an associate sponsor and they are ready to offer a higher amount in order to acquire the rights from Vivo,” an insider in the know of developments said.

ICC, BCCI. India
BCCI. Photo Credit: AFP.

The report also revealed that BCCI would rather VIVO transfer its rights to another brand than take up new bids as it would be for a lesser amount they would receive than expected.

“Look, Vivo paid approximately ₹440 crore ( ₹2190 crore for 5 years). Now if BCCI invites bids, just like last year when Dream11 paid ₹222 crore, it might increase but can’t be doubled. But if there is a transfer of rights, the old amount could be matched or even bettered,” the source added.

The IPL 2021 auction is set to take place in Chennai on 18th February. For the time being, the VIVO logo will be used at the auction. Mumbai Indians are the defending champions having won it for the fifth time last season.

Also Read: Virat Kohli Leads A Team Of Superstars And Not Players Who Won Test Matches For India In Australia- Indian Cricketers’ Association President Ashok Malhotra Lashes Out At The Indian Skipper

This article is auto-generated by Algorithm Source: cricketaddictor.com

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