- The Board of Control for Cricket in India (BCCI) is hopeful that the loss incurred after going to Vivo can be recovered as much as possible. The board has lost Rs 440 crore due to the departure of Vivo and the board expects to get Rs 300 crore.
The Board of Control for Cricket in India wants to increase the number of its official partners in the Indian Premier League (IPL) from three to five this year. The board expects to get 80 crores (from 40 crores a) from two additional partners. According to this, after the departure of Vivo, the Board of Control for Cricket in India wants to earn Rs 300 crore this year.
According to the reports, the Cricket Board has also come close to finalizing the deal for the title sponsorship and can make a surprise announcement later this week. A source close to the board said, “It is reported that Amazon, Byju’s, and Dream 11 are in the running but it is expected that BCCI may take a surprising decision.”
This deal will be for a window of only four months and if the board is able to deal in this range then it will be a big thing not only for Indian cricket but also for the global sports industry.
Chinese company (Vivo) IPL this year led to a gap of around Rs 450 crore in the sponsorship market. In such a situation, market experts say that it is now a matter of respect for India Inc to show the world that their most valuable property – Indian cricket – can go on.
Vivo India promised BCCI Rs 440 crore every year for five years after the deal in 2018. Now since it is not part of the deal this year due to many reasons, if the board also collects up to Rs 300 crore, then it will be three fourth of the loss due to the departure of Vivo. Now the question is that this year, so much money can be raised due to Kovid-19.
The problem is that the next title sponsor will only have a window until December. There are very few numbers for any brand.
Industry sources say that BCCI has been requested by the e-learning app Unacademy and Credit Card Platform Cred to become the official partner.