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New Delhi8 minutes ago
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Vivo’s contract for IPL title sponsorship was for 5 years with Rs 2190 crore.
- Vivo gives Rs 440 crore for IPL title sponsorship
- Vivo was removed from China last year after a border dispute.
Amid tensions in China and India, China’s mobile phone manufacturer Vivo will once again become the title sponsor of the 2021 season of the Indian Premier League (IPL). The reason for this is that the Chinese company has failed to transfer title rights. According to sources associated with the Board of Control for Cricket in India (BCCI), Vivo has not received the offer as expected.
Vivo gives Rs 440 crore every year to BCCI
Chinese company Vivo pays Rs 440 crore every year to BCCI for the title sponsorship of IPL. Last year, BCCI removed Vevo from the title sponsorship after a border dispute with China in the Galvan Valley of Ladakh. According to sources associated with the BCCI, the Dream 11 offers for Title Rights and the offers from Unacademy have not been as per Vivo’s expectations. For this reason, the company itself has decided to become the title sponsor. Now the company will seek re-offer for title rights next year.
Last year, Dream-11 was the title sponsor of IPL.
In the season of IPL 2020, fantasy gaming firm Dream-11 was the title sponsor. For this, Dream-11 had given 222 crores to BCCI. The contract was from 18 August to 31 December 2020. This amount was about half of Veevo’s annual payment.
Vivo is the title sponsor of IPL by 2022
Vivo’s contract for IPL title sponsorship was for 5 years with Rs 2190 crore. The company used to give Rs 440 crore annually. The contract was from 2018 to 2022. According to BCCI sources, I ended the contract with Vivo for a year. This can be extended from 2021 to 2023.
Difference between Central and Title Sponsorship
Indian companies dominate the central sponsorship of the IPL. The rights of both Central and Title Sponsorships are different. Jersey sponsorship is not covered under IPL in Central Sponsorship. That is, the title printed on the jersey is only entitled to title sponsorship. Also, the company gets good post-match presentation areas for its branding, backdrops in dug outs and boundary ropes. The title sponsorship requires more money than the central contract.