IPL 2021: Vivo quits as IPL title sponsorship, Unacademy and Dream 11 in the race.
Indian Premier League (IPL) 2021: The title sponsor for the cash-rich league is still a major concern for BCCI since last year after the Chinese smartphone brand pulled out of the IPL title sponsorship days before the IPL 2020 opener.
The IPL is still without the title sponsor and it is likely that the IPL 2021 auctions will be held without the title sponsor and this will be the first time when the auctions will be conducted without the sponsor.
As the political rift between the two-nation is still not solved, the Chinese smartphone brand Vivo is unlikely to continue as the title sponsor. The exit of Vivo will make ways for the other brands that might want to partner with the BCCI and IPL.
The Indian education brands Unacademy and Dream11 are still in the race to be the title sponsor. Dream11 sponsored the IPL last season after Vivo backed out of the deal.
According to the report in Outlook India, Vivo is looking to transfer the title sponsorship to other company amid the rifts between the two countries.
“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.
“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 the board agrees on principle, it can happen.”
Both Unacademy and Dream11 will reach out to the Vivo for the deals to assign its title sponsor role.
“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 said.