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new Delhi11 minutes ago
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Dream-11 was the title sponsor of IPL 2020, which bought the rights for Rs 220 crores. (File photo)
Chinese mobile phone company Vivo can transfer its title sponsor rights. Actually, Vivo wants to exit the Indian Premier League (IPL) by transferring its rights. According to the news agency, companies such as fantasy gaming platform Dream-11 and Eju-tech start-up Unacademy are said to be at the forefront of getting the rights.
The title sponsor of IPL 2020 was Dream-11
Dream-11 was the title sponsor of IPL 2020, which bought the rights for Rs 220 crores. At the same time, Vivo had signed a contract of Rs 440 crore annually for a five-year agreement. In fact, the Board of Control for Cricket in India (BCCI) suspended the deal in view of the increasing tension between India and China.
Determined to leave title sponsorship
Citing board sources, the news agency said that it is almost certain that Vivo will give up the title sponsorship of the league after discussing with the board. The deal was suspended for the 2020 edition. There is a provision for this that he can pay his outstanding liability to the new sponsor. This is possible if the board is prepared in principle.
Will put proposal in front of Vivo
There will be nine or ten teams in IPL 2022. It is expected that the new bidder will get title sponsor rights for at least three years. According to sources, Dream-11 and the academy will place the proposal in front of Vivo. An Academy is an associate sponsor. Both are also ready to pay huge amount for taking rights from Vivo.