IPL sponsorship: BCCI looks to raise Rs 300cr in the middle of the raging pandemic

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Indian Cricket is now preparing up for an event of potency with strength. Although, it’s clear that whatever is going to occur in between now and the next 72 hours will for sure determine the actual height of the game’s financial potency in the country.

This is going to be decided, specifically in the middle of the ongoing pandemic outbreak.

Sources revealed that three to five sponsors are peeking to fetch into the additional partners’ spots this time as a regular agreement of around Rs 40cr each.

The BCCI has agreed to broaden its official partners in the Indian Premier League, apart from this they are seeking to put up the financial mark around Rs 300cr in the trace of the aforesaid partner Vivo.

Moreover, Times Of India comprehends, could end up giving a surprise within the edge of the ongoing week, the cricket board is zeroing in on a “substantial deal”, where the title privileges are distressed.

IPL sponsorship: BCCI looks to raise Rs 300cr in the middle of the raging pandemic

Who Among The Sponsor List?

Tracking developments revealed it officially that, there are many conversations about Amazon, Byju’s, Dream 11 subsisting in the ongoing IPL official partner race. But we can anticipate BCCI to vault a surprise.

Reckoning the agreement will simply be for a four-month window to decide. However, anything in the procured meadow will be professed a massive success. This would not just for the Indian cricket, but in the entire sports commerce too.

What’s The Actual Impact After Vivo’s Exit?

Tough time for the Indian Cricket Board, where a Chinese firm opting out for this year and resulting in a Rs 450cr inadequacy in the aegis market.

Vivo India was obliged to pay approx. Rs 440 crore to the BCCI for five years after arriving on board in 2018. However, find itself out this year due to the impactful external facets.

With a massive loss to the board after Vivo’s exit, the Cricket board will achieve in making up for at least 3/4th of the actual loss with the help of around Rs 300cr.

What Can We Expect Now?

Well, the main question hitting the hoops in India’s neophyte, but competitive sports commerce is ” Will that sort of fortune is put forward in a year ravaged by the ongoing pandemic of COVID crises?”

The main fact hitting heading the agreement that the fresh title sponsor will only get a 4 months liberties window, which means until December.

This time period is given for brand activation or objectives of noticeable discernibility, that brings about the task more challenging to them.

Read more: COVID-19 hits hockey: 6 positive cases – Uncertainities for the Men’s Camp

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