Who Will Be The Winner For IPL 2020 New Title Sponsors
As we all know due to the recent CoronaVirus attack the IPL 2020 was postponed. That was a great moment of grief for IPL fans throughout the world. But the good thing is BCCI decided to conduct IPL 2020 in the United Arab Emirates. The IPL 2020 dates and schedule has also been changed. The new IPL 2020 dates are from September 19 to November 10. The new IPL schedule is not announced yet.
The Chinese technology giant Vivo is out of IPL 2020 sponsors after the recent India-China clash in Ladakh. India also banned many Chinese apps in the country including TikTok. Vivo has a 440 crore partnership for five IPL seasons and has terminated it with the Indian Cricket Board. So now BCCI is now looking for a new title sponsorship for IPL 2020. This is now a golden chance for other sponsors to grab a place. But the new IPL title sponsor 2020 will hold the rights for only a four-and-a-half-month period and the highest bid may not necessarily end up being the winning one, the BCCI said on Monday.
Conducting such a big tournament is a challenge for BCCI now after Vivo left the Sponsorship so the BCCI opened the new doors for new IPL Title sponsors. The IPL 2020 sponsor will be decided on 18 August but the race is starting from 14 August. There were three partners in the past but BCCI now changed it to five.
On 10 August 2020, BCCI released a 13 point clause for submission of the bids from Third Parties and the winner will be declared on August 18. BCCI press release stated that the rights will be available for the period from August 18, 2020 to December 31, 2020. Also BCCI clearfield that no middle-men and agents are allowed to enter the bidding. Any bid submitted by a marketing agency or agent will be cancelled.
The BCCI set a target of Rs 300 CR by himself for IPL 13 in which they are targeting 225 to 250 Cr from IPL sponsorship partners and rest of the 60 or 70 Cr from other partners by filling the 2 or 3 available slots.
Right now, TATA Motors, FBB, and Dream11 are the official partners of the Indian Premier League, but the Indian Cricket Board still has 3 empty slots. Due to the recent pandemic, it may be possible that these slots still remain vacant but BCCI is now in negotiation with potential companies to fill the slots.
In IPL 2019, BCCI made 618Cr from the IPL sponsors.
If Indian Board of Cricket manages to get 300 Cr in the next few days, they will still short 140Cr as compared to IPL 2019 revenues, but in the current pandemic situation this will be still an achievement.
IPL 2020 Title Sponsors
By August 14, 2020 the interested companies have to send their EOI to the BCCI for the IPL Title Sponsorships.
Right now, Amazon India, Byju’s, Dream11, Patanjali Ayurvedha are the new horses in the IPL 2020 Title Sponsorship race.
Also the beverage making Coca Cola company is also waiting for the right time to place the bid. E learning app Unacademy and Credit Card company Cred are among those who have expressed interest in bidding for the rights. The picture will be more clearer on Friday 14 August.
IPL 2020 will be a great opportunity for new companies to increase their brand visibility.
