had already indicated during the 2020 title sponsorship race that it would pay Rs 240 crore and Rs 260 crore each for the 2021 and 2022 editions. It had paid Rs 222 crore for the 2020 title sponsorship, which was nearly half of what Vivo
had paid annually for two years.
To get out of the logjam, informed sources said that the Board of Control for Cricket in India (BCCI), which owns and runs the IPL, continued its dialogue with Vivo, even as negotiations with Unacademy
and Dream11 were on.
In the end, Vivo
was convinced to stay back in time for the IPL 2021
auctions, triggered in part by the decision of the Indian and Chinese governments to pull back troops from Ladakh. Videos and pictures of the same were released by the Indian Army this week.
The IPL title sponsorship forms a key part of the BCCI's central revenue sharing agreement with the eight franchisee teams of the T20 tournament. 50 per cent of the title sponsorship money goes to these teams, implying that the more it is the better it is for all stakeholders concerned. The eight franchisee teams end up earning nearly Rs 28 crore per year from Vivo's annual payout.
Dream11, on the other hand, first came on board as an official partner of IPL in 2018, Unacademy was appointed an official partner last year by the BCCI.
Official partners are basically central sponsors who are attached to key properties of the IPL such as umpire branding, strategic timeout etc. PayTM, Ceat
and Tata Motors
are some of the other official partners of the IPL.
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