IPL Auctions 2021 - No major sponsor on board yet:
The biggest cricket league in the world, the Indian Premier League (IPL), once again has no sponsors. The relationship between IPL and title sponsor Dream11 ended on December 31 with a very remote chance to renew the deal with the flagship fantasy platform. Neither the official IPL website (Iplt20.com) nor any of the IPL press releases bear the Dream11 name or logo.
Senior BCCI Officer in Sponsor Status IPL 2021. We are told that it is likely that the Bahrain Chamber of Commerce and Industry (BCCI) will make a new bid for the main sponsor, as a return to the former sponsors VIVO is not possible.
"Bidding for the new main sponsor is the only possible option currently available. The IPL deal for 2020 was almost half of it and we cannot continue it. A return to LIVE is also unlikely in the current situation. A Bahrain Chamber of Commerce and Industry official said:" The final decision will be made on the new bid. And sponsor the title soon. "
It should be noted that BCCI suspended its 440 Cr sponsorship deal with VIVO in the wake of anti-China sentiment ahead of IPL 2020. This led to Dream11 entering as a title sponsor, but for 222Cr, which is nearly half the price of the VIVO bargain. While signing the agreement, Dream11 tried to negotiate with BCCI to extend the rights to IPL 2022 also at the same price. But BCCI held up and the deal was eventually signed for only one season, i.e. IPL 2020.
Will the auction take place without the main sponsor on board?
The Board of Directors decided to hold the IPL Auctions 2021 on February 18th in Chennai, which is less than 3 weeks old. It will be difficult for BCCI to terminate the main sponsor before IPL auctions 2021.
The IPL Auction is a widely broadcast and televised event in which the Main Sponsor, in particular, earns a large number of Miles and it currently appears that the auction in Chennai will be held without the Main Sponsor.
Options with BCCI -
1) Renegotiate the deal with Dream11:-
Seems unlikely. This could put BCCI in a legal mess. The title sponsorship tender published by BCCI prior to the IPL 2020 was for only one year and if BCCI decided to renegotiate the agreement with Dream11 for another year, that would be contrary to the terms of the bid and could be challenged by the competing parties.
2) Return to VIVO:-
BCCI has all contractual rights to return to VIVO as the main sponsor. But the question is, will they risk defying the public sentiment that is still against China and Chinese companies? Once again, the choice appears unlikely.
3) Bid for the main sponsor:-
This appears to be the most feasible option in the current circumstances. This gives everyone involved a fair chance. Even BCCI can get a prime sponsor of similar value to what VIVO promised thanks to the massive audience numbers of IPL 2020.
The problem with choice is lack of time. The Bahrain Chamber of Commerce and Industry (BCCI) is unlikely to launch a tender in the next few days and complete the paperwork ahead of IPL auctions 2021.
So don't be surprised if auctions for the world's largest cricket league take place without a major sponsor on board on February 18.