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.Also Read: India vs England 2021 | England tour of India Full Schedule, venue, dates - All you need to know
IPL 2021 Big Update: Chinese mobile maker Vivo, which has suspended its IPL sponsorship rights for the 2020 edition, is considering exiting the Indian Premier League by transferring its rights to Interested bidders, which may include Dream11 fantasy gaming platform and startup Unacademy Tech Education.Dream11 was the IPL title sponsor for the 2020 release, taking the rights to Rs 222 crore, which is nearly half (Rs 440 crore) of what Vivo paid annually for a five-year contract.It is understood that in the prevailing situation where the geopolitical relations between China and India are in a delicate state, Vivo realizes that it is unwise to continue the partnership for the remaining two years.“It is almost final for Vivo to exit the IPL address sponsorship agreement by mutual consent with the board. It has been suspended for the 2020 edition. However, there is a clause that allows them to transfer their outstanding responsibilities as sole sponsors for the title to the new winner. If the board agrees in principle, it could happen. This was stated by a senior source in the Bahrain Chamber of Commerce and Industry to PTI on condition of anonymity.With the IPL set to expand 9 or 10 teams in 2022, the new bidder is expected to secure the title sponsorship rights for at least three years.Dream11 and Unacademy will present their offerings to Vivo. In any case, Unacademy is an associated sponsor and is willing to offer a larger sum to acquire the rights to Vivo, ”said an industry expert who has been tracking developments.MPL, who is the sponsor team for Team India, is known to be unable to choose Title Sponsorship because Dream11 was a Senior Partner and will have what they call in the sponsorship language "Category Exclusive".BCCI bosses hope that a clearer picture will emerge by the end of the week once Vivo has a tangible final presentation.“See, Vivo paid nearly 440 crores (Rs 2,190 crores for 5 years). Now, if BCCI calls for bids, like last year when Dream11 paid Rs 222 crores, it might go up, but it can't be doubled. But if it is There is a transfer of rights, so the previous amount can be equalized or even improved.The IPL Auction will take place on February 18th in Chennai with a maximum of 61 available spaces."Since the transfer of property rights will take some time, it is expected that the Vivo logo will be used during the auction on February 18th."Also Read: IPL 2021 AUCTIONS: BCCI IN A FIX, AUCTIONS LIKELY TO BE CONDUCTED WITHOUT A IPL TITLE SPONSOR ON BOARD
