Dream11, Unacademy likely favourites to replace VIVO as IPL 2021 title sponsors

The BCCI recently confirmed the IPL auction date with the event scheduled to take place on February 18 in Chennai. The IPL auction date is just a week away but the BCCI, which is renowned to be the world's richest cricketing board, is once again without a title sponsor for the upcoming cricketing extravaganza, much like the last edition of the IPL.

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Dream11 and Unacademy app lead IPL title sponsorship race: Reports

According to recent reports, the Chinese smartphone brand VIVO is looking for a way out from the competition by transferring the IPL sponsorship rights to interested parties, having backed out of the 2020 edition of the tournament. As per sources, Indian fantasy sports platform, Dream11 and edu-tech start-up Unacademy are the frontrunners to bag the IPL sponsors rights.

The BCCI had to suspend its ₹440 crore per year deal with Chinese smartphone making company.  The VIVO IPL deal fallout originated because of the anti-China sentiment across the country post the India-China standoff at the Galwan Valley, where 20 Indian soldiers were martyred in June 2020. With the immense geo-political tension between the two countries, VIVO feels it's sensible to discontinue the association.

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While speaking to PTI, an anonymous BCCI source revealed that it's almost final that VIVO will exit the IPL title sponsorship deal by mutual consent with the board. The source added that there is a clause which allows them to transfer their pending liabilities as one-time title sponsors on the new winner. He stated that if the BCCI agrees on principle, it can happen.

The BCCI official further said that VIVO paid approximately ₹440 crore (₹2190 crore for 5 years) and now if BCCI invites bids, just like last year when Dream11 paid ₹222 crore, it might increase but can't be doubled. However, he reckoned that if there is a transfer of rights, the old amount could be matched or even bettered.

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According to an industry insider, Dream11 and Unacademy will place their offers to VIVO. He added that Unacademy, in any case, is an associate sponsor and they are ready to offer a higher amount in order to acquire the rights from VIVO. Notably, Mobile Premier League (MPL), who are the kit sponsors of the Indian cricket team, may not be allowed to enter the race of the IPL title sponsorship as Dream11, who had been the IPL 2020 title sponsor, will get what they call in sponsorship language 'category exclusivity'. It is expected that a clearer picture will emerge by the weekend when VIVO gets a final offer.

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SOURCE: IPL TWITTER