The 13th edition of the Indian Premier League (IPL) stands truly by the name, as it is owned and ruled by the Indian companies. Although there is drop in sponsorship revenues, but the entire sponsor slots are filled up by Indian firms from diverse business portfolios.
After VIVO pulling out from the Title sponsorship deal for IPL 2020, there was a setback for BCCI, but immediately the tender bid was released. Considering the anti-china sentiments in the mind of the people plus the financial situation of the market, BCCI was ready to face the cut in Title sponsor value.
Dream11 bagged the Title sponsorship rights for IPL 2020 for INR 222 Cr, against VIVO’s annual premium of INR 440 Cr.
Similarly, Future group pulled out of the central sponsorship deal which was immediately filled by the Indian ed-tech leading firm, Unacademy.
CRED, a credit card payment service based company replaced Dream11 to take the third-available spot in the central sponsors. So the new central sponsors for IPL 2020 include Tata Motors, Unacademy and CRED.
Paytm and CEAT decided to continue with their existing contracts as Umpire sponsors and Strategic Time-out respectively.
SportsMint has learnt from its reliable sources that the total central sponsorship value for IPL 2020 stands at INR 360 Cr in comparison to INR 620 Cr for IPL 2019.