IPL 2021 : IPL 2021 Latest News, Upstox to Join IPL as Official Partner

IPL 2021 Official Partner: The Indian Premier League (IPL) has not lacked sponsors since its inaugural edition in 2008. Recently, the Indian Board of Cricket (BCCI) has signed a deal with digital stockbroking firm Upstox. Upstox has an agreement of two year sponsorship deal with BCCI (agreement can be extended for another one year) for 90 Crore. Upstox has outbidded its rival firm Groww and joined IPL as an official partner.

Groww, which is an online trading and wealth management company was the front runner but Upstox outbidded them and reportedly signed 45 crore per annum deal with IPL.

Also Read: IPL 2021 Venue Update: BCCI Shortlists Five Venues to Conduct IPL 14th Edition

Upstox was launched in 2015 and after Zerodha, it is the second largest stock broker of India. It has 1.8 million active clients as of February 2021.Upstox annual earning earnings are Rs 148 Crore for FY20. They raised about $29 million from the investors like Ratan Tata, Tiger Global, Kalaari Capital, and others.

IPL 2022 title sponsor Dream11 will come back as an official fantasy partner for IPL 2021. Dream11 tried to retain the title sponsor rights and made an offer to VIVO but the deal did not go well.Now, Dream11 is the official fantasy partner of the IPL 2021.

Also Read: IPL 2021: Dream11 back after VIVO Refused IPL Fantasy Sports Title Sponsorship Offer

According to the resources, BCCI is in talks with other two brands at this stage and most likely will get a 6th official partner for IPL 2021.

“We are in talks with multiple parties. The interest is phenomenal at this stage and we should have two more official partners before IPL 2021. It is all because of unprecedented success of IPL 2020’, Said the BCCI Official

Source

Leave a Comment