Hotstar, the online streaming platform of Star India, has withdrawn their Associate sponsorship deal with Indian Premier League (IPL).
According to the reports, IPL Associate sponsorships are currently worth INR 40-80 crores per year. Hotstar, who were the onground sponsor of IPL, was paying INR 42 crores per year for this deal. However, now, Hotstar has decided to leave this plan.
A source from the Board of Control for Cricket in India (BCCI) has confirmed this news to India Today.
The source told India Today, “There was an exit clause in the deal and Hotstar chose to exercise it.”
Hotstar will continue the live streaming of next IPL season
In 2017, Star India won the IPL media rights deal for the next five seasons. They put a whopping INR 16,347.5 crores bid for that television and digital rights. In the same time, Hotstar also joined as the onground sponsor of IPL.
However, the latest exclusion from the IPL Association sponsorship will not put any effect on their media rights. It means the Star India will continue their live telecasting through the television and online streaming platform.
After the end of IPL 2019, Hotstar claimed that over 300 million viewers enjoyed this IPL season. According to the Hotstar, IPL 2019 observed 74% increase in watch-time than the IPL 2018.
Mumbai Indians won IPL 2019
Despite the lengthy scheduling of Indian general election 2019, the BCCI was successful in conducting the entire IPL 2019 in the country. This tournament ran from 23rd March to 12th May, just ahead of the ICC Men’s Cricket World Cup 2019.
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Rohit Sharma-led Mumbai Indians (MI) won the IPL 2019 and created a record by winning this trophy for the fourth time. In the final at Hyderabad, they faced the defending champions Chennai Super Kings (CSK), who have also won this tournament for thrice. MI won this IPL 2019 after winning that thrilling final by just one run.