BCCI has cleared all the speculations regarding VIVO exiting from the 14th edition of the Indian Premier League as they announced that the 14th IPL edition would be called VIVO IPL 2021.
There were rumours all over regarding VIVO’s exit from IPL and that the mini IPL Auction will be conducted without a title Sponsor. But all the speculations were ended by BCCI Secretary Jay Shah through an official mail to media on the IPL Auctions Player List confirming that IPL 2021 will be called VIVO IPL 2021 and that the Indian cricket board will continue its tie-up with the Chinese mobile brand.
The IPL title sponsors for the 2020 edition was Dream11, who won the rights for Rs 222 crore, which was almost half of Rs 440 crore, what Vivo was paying annually for a five-year deal.
“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,” the source stated.
Although BCCI anticipates a more precise picture that might come out by the weekend, once Vivo gets a rock-solid final offer.
“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 mini-auction is all set to be in action on 18th February, and as far as the IPL title sponsorship is concerned, VIVO’s IPL title sponsorship right will stay intact.