Vivo IPL
Vivo IPL. Image Credits: Trophy

Last Update on: February 11th, 2021 at 05:16 pm

If prevailing reports are to be believed, then mobile manufacturing company Vivo, which were the main title sponsors for the Indian Premier League since 2016-2019 will likely exit the IPL 2021 title sponsorship. Due to the rising tensions between India and China in the Galwan Valley, Vivo, which is a Chinese brand, faced huge backlash with the Indian community preferring to boycott China-made products to support the Indian armed forces.

This led to Vivo pulling out of the IPL title sponsorship for the IPL 2020 edition, which was played after being postponed from its original slot of March-May, 2020, and was conducted in the UAE instead of India, due to the COVID-19 pandemic. This led to the BCCI floating the sponsorship rights afresh and Dream 11, a fantasy sporting platform won the rights for Rs 222 crore.

Dream11 IPL Trophy
Dream11 IPL Trophy. Image Credits: Twitter

Vivo Likely To Exit The Main IPL 2021 Sponsorship And Transferring Rights

Vivo is understood to be taking this decision due to the prevailing situation with the India-China geopolitical relations which are in a sensitive state, and they understand that it’s not prudent to continue the association with two years still left. It has won the IPL title sponsorship for 5 years from 2017-2022 for INR 440 crores.

“It’s almost final that Vivo will exit the IPL title sponsorship deal by mutual consent with the board. It was suspended for the 2020 edition. However, there is a clause that allows them to transfer their pending liabilities as one-time title sponsors on the new winner. If the board agrees on principle, it can happen,” a senior BCCI source was quoted as saying by PTI.

The IPL is also set to be expanded in 2022 with one or two teams joining the fray and it is expected that the new bidder will get at least a three-year title sponsorship rights. Also, reports stated that the Indian team’s kit sponsors MPL may not be allowed to bid for title sponsorship as Dream11 has been a title partner and will get what they call sponsorship parlance “category exclusivity”.

Vivo IPL Trophy
Vivo IPL Trophy. Image Credits: Twitter

Dream11 and Unacademy will place their offers to Vivo. Unacademy in any case is an associate sponsor and they are ready to offer a higher amount in order to acquire the rights from Vivo,” an industry insider tracking development said.

Look, Vivo paid approximately Rs 440 crore (Rs 2190 crore for 5 years). Now if BCCI invites bids, just like last year when Dream11 paid Rs 222 crore, it might increase but can’t be doubled. But if there is a transfer of rights, the old amount could be matched or even bettered,” the source said.

The IPL 2021 auction is all set to take place on February 18 in Chennai. IPL 2021 is likely to begin from April 11 if certain media reports are to be believed.

Also Read: Dream11, Unacademy Frontrunners In Race For IPL 2021 Sponsorship After VIVO Certain To Exit