Vivo has returned as IPL’s title sponsor for the 2021, say highly placed sources in the industry.
The Chinese smartphone brand was replaced by Dream11 as the title sponsor ahead of last year’s tournament due to a public outcry because of the face-off between India and Chinese army in June 2020. Dream 11 had bagged the deal for Rs 222 crore.
Vivo had bagged the title sponsorship rights for the period of 2017-2022 for approximately US$ 341 million, an extension of their two-year association since 2015. The BCCI had suspended the contract with a statement in August 2020, which read: “The BCCI and Vivo Mobile India Pvt Ltd have decided to suspend their partnership for Indian Premier League in 2020.”
After that , a fresh process to bring on board a title sponsor was conducted, in which Dream11 bagged the rights for INR 222 crore (US$ 29.7 million approx. at the time) ahead of a handful of other Indian bidders, including Indian kit sponsor Byju’s, which was also in the race.
The title sponsorship forms a key part in the IPL’s revenue sharing agreement with the franchises; 50% of the title sponsorship money goes to the eight franchises. It is understood each franchise earns over INR 20 crore (US$ 2.7 million approx.) per year from the title sponsorship.
Dream11 had been an official partner of the IPL since 2018 and continues to be listed as one on the IPL website.