Board of Control for Cricket in India (BCCI) is looking forward to raising the number of official sponsorship from three to five for the upcoming IPL 2020 edition, scheduled from 19th September. Also, the board could end up getting a title sponsor by the end of this week, as per reports.
According to reports in Times of India, BCCI has decided to get two additional partners at an average commitment of Rs 40cr to raise the revenue bar after Vivo had exited from this year’s IPL title sponsorship.
The report stated that online platform Amazon, e-learning app Byju’s and gaming app Dream 11 are in the front race for the sponsorship.
“There’s chatter about Amazon, Byju’s, Dream 11 being in the the race. But expect BCCI to spring a surprise,” say those those tracking developments.
BCCI looking to generate INR 300 Crore revenue:
The Chinese company Vivo company suspended this year’s deal with BCCI after the tension flared up between India and China at the Line of Actual Control which caused the death of several Indian soldiers. Subsequently, India had banned a number of Chinese applications in India, including the popular Tiktok.
Amid all this, fans had also claimed to boycott IPL because of the Chinese sponsorship. Then Vivo decided to take down the sponsorship of the 13th edition of the league.
Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2190 crore, approximately Rs 440 crore per annum. The title sponsors play a huge role in generating revenues, half of which is shared equally by the eight.
The BCCI is planning to generate approx INR 300 crore to lessen the deficit caused by Vivo exit. So, it is a challenging task for the board to get a sponsor to par with the Chinese company in such a short period.