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Unacademy replaces Future Group as IPL 2020 official sponsor

After getting Dream 11 as the title sponsor of IPL 2020, there is another good news from the officials that an Ed-tech company from India will be the official sponsor of this year’s IPL. The company is Unacademy which is a very reputed and renowned company nowadays.

Future Group has been financially hit by the Coronavirus pandemic so they have pulled out of IPL. So now, Unacademy has signed for three years as IPL central sponsor and will give a huge range of Rs 120-130 crores for the period of sponsorship.

The official announcement in this regard will be made soon.  “The deal with Unacademy is completed for 3 years. We will make the official announcement soon”, confirmed the BCCI.

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BCCI announced to vacant slots for the central sponsors. Now, one is occupied by the Unacademy, BCCI is in talks with the Credit Card payment company CRED for the second slot. But there is no official approval for CRED, as the process is still running. In the case of other sponsors PayTM is the IPL’s Umpire partner and also BCCI’s title sponsor for those Bilateral cricket series and domestic cricket in India. CEAT is the Strategic Timeout Partner of IPL.

Unacademy replaces Future Group as IPL 2020 official sponsor

BCCI’s revenues from IPL central sponsorships have gone down by 40% at this stage

If we take the list 2019 IPL sponsorships, Title Sponsor – VIVO (Rs 440 crores), Official Partners – Tata Motors, FBB & Dream11 (Rs 120 crores), Umpire Partner – PayTm (Rs 28 crores), Strategic Timeout Partner – CEAT (Rs 30 crores). On a whole, BCCI made Rs 618 crores from IPL 2019 Central Sponsorships.

In comparison with 2019, IPL 2020 Central Sponsorship values are currently down by 40%. Title Sponsorship values are also dropped by 50%. Title Sponsor – Dream11 (Rs 222 crores), Official Partners – Tata Motors, Unacademy (Rs 80 crores), Umpire Partner – PayTm (Rs 28 crores), Strategic Timeout Partner – CEAT (Rs 30 crores). This time, the total revenue is Rs 360 crores at this stage. To manage this, BCCI may add one more partner to the IPL 2020.

BCCI is pretty much confident that they will get over the current situation and IPL 2020 will also be as electrifying as the previous seasons.

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