IPL 2021 is going to have a huge boost in sponsorship deals. As per sources, the sponsorship revenues can grow 100% in IPL 2021 compared to IPL 2020.
BCCI had recently announced Digital brokerage firm Upstox as the new official partner for IPL 2021. It means IPL 2021 will have 5 official partners in the league compared to the 3 of IPL 2020.
As per the sources, BCCI is holding talks with various companies and may add 1 more name to the official partner list very soon. BCCI had seen an almost 50% drop in the 13th edition of IPL, and the same is set to double this year.
However, without any new addition in future, IPL Sponsorship revenues have grown to 708 Cr this year for BCCI. In IPL 2020, it was just 400 Cr.
Here is the total amount of revenues in both IPL:
1 Title Sponsor [Dream11]: 222 Cr
3 Official Partners [Tata Motors / Cred / Unacademy]: 120 Cr
1 Umpire Sponsor [PAYTM]: 28Cr
1 Strategic Timeout Partner [CEAT]: 30Cr
1 Title Sponsor [VIVO]: 440 Cr
5 Official Partners – 210 Cr
1 Umpire Sponsor – 28 Cr
1 Official Strategic Timeout Partner – 30 Cr
However, the increase in total sponsorship will be beneficial for the IPL franchises as well. They will also earn big this time as the sponsorship revenues are shared with them as per the contractual terms between both parties.