IPL Sponsorship: Dilemma as Upstox and Unacademy to back out as sponsors

For the BCCI, terrible news is pouring down. The title sponsor of the BCCI, Paytm, reportedly opted to leave the board on Thursday. Two IPL sponsors have now made the decision to renegotiate their agreements with the most profitable cricket league in the world. Unacademy and Upstox, the IPL’s primary sponsors, have told the board that they want to end the relationship.

Upstox and Unacademy, the official sponsors of the Indian Premier League (IPL), have notified the BCCI of an impending transfer of rights. The two companies want to end their relationship with the league. Upstox and Unacademy have a collaboration that will last through the IPL’s 16th season, or until 2023.

image 533 IPL Sponsorship: Dilemma as Upstox and Unacademy to back out as sponsors
credit: Zee News

The businesses have sought to transfer the sponsorship rights to another entity to the BCCI. The marketing agency for both brands have been searching the market for businesses that might be interested in purchasing an IPL sponsorship for a year.

The BCCI offers a sponsorship provision that enables a brand that already has a relationship with the Indian cricket federation to sell its sponsorship rights to another business. If brands are granted the ability to transfer the rights, they must pay a transfer fee of 5% to the BCCI.

Upstox and Unacademy have a collaboration with IPL till 2023

image 534 IPL Sponsorship: Dilemma as Upstox and Unacademy to back out as sponsors
credit: InsideSport

According to rumours, Upstox will also sever ties with the International Cricket Council. The sponsorship would likely cost approximately $5 million.

Upstox is purportedly experiencing financial difficulties, similar to many other start-ups, and the firm has reportedly opted to reduce marketing expenses, including sponsorship agreements with the ICC and BCCI.

Along with Upstox, OPPO has also requested in writing to the ICC that the sponsorship rights be transferred to a third party. The ICC Marketing department was contacted, but they declined to comment.

Read: Top 10 shortest matches by balls in Test Cricket of all time

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Most Player of the Match Awards in IPL

Most Player of the Match Awards in IPL: Players...

Most Player of the Match Awards in IPL : Since 2018, the Indian Premier League (IPL) has...
IPL Hat Tricks

IPL Hat Tricks from 2008 to 2025: Complete List...

IPL Hat Tricks from 2008 to 2025: The Indian Premier League (IPL) may be a paradise for...
Suryakumar Yadav

Suryakumar Yadav Joins Elite Club: Completes 100 IPL Matches...

Suryakumar Yadav : Mumbai Indians (MI) star Suryakumar Yadav has added another remarkable feat to his glittering...
TATA IPL Points Table 2025

TATA IPL Points Table 2025: Teams, Rankings, Wins, Losses...

TATA IPL Points Table 2025: Hey, cricket fanatics! The IPL 2025 is absolutely buzzing right now, with...

LSG vs MI IPL 2025: Dream11 Battle at Ekana...

The Indian Premier League 2025 season Dream11 reaches a critical juncture as Lucknow Super Giants (LSG) and...

LATEST NEWS

Ada Malik’s BLACKPINK Lisa Resemblance: Anu Malik’s Daughter Stuns With K-Pop Doppelgänger Look

In an unexpected cultural crossover that has set social media ablaze, the worlds of Bollywood and K-pop collided when Ada Malik, daughter of veteran...

Sonam Kapoor Dazzles in Off-White Masaba Saree: Tamil Motifs Meet Modern Elegance

When Sonam Kapoor steps onto a red carpet—or in this case, into a store opening—the fashion world collectively holds its breath in anticipation. The...

Tata Capital $2 Billion IPO: Why the Financial Giant Chose the Confidential Filing Route

The Indian financial services landscape is witnessing a significant milestone as Tata Capital Ltd., the financial arm of the prestigious Tata Group, strategically positions...

Sonam Kapoor Royal Airport Look: Kashmiri Coat Paired with Rs 3.2 Lakh Dior Bag

In the world of celebrity airport fashion, where comfort often dictates choices of athleisure and casual ensembles, Sonam Kapoor continues to redefine boundaries with...

Featured