IPL Sponsorship Crosses Rs 1,000 Crore For The First Time In 15 Years
Mumbai (NewsReach) : According to a media report, BCCI will earn more than Rs 1,000 crore from sponsorship of the Indian Premier League (IPL) 2022 this year. This will be the record sponsorship revenue earned by BCCI in the 15 seasons of IPL so far. The BCCI has tied up with a new title sponsor and two new associate sponsors this year.
IPL GC recently announced new deals with RuPay and Swiggy as the central sponsors of the IPL. The report states that for the first time ever, the board has filled all nine sponsorship slots for the season. The Rs 48-50 crore deal annually from RuPay and Swiggy is a big boost for the BCCI.
Tata has taken the title sponsorship for 335 crores. Although Tata group is paying Rs 335 crore which is less than what Vivo was paying, but still BCCI will earn around 30-40 per cent more. According to sources, the deal has been structured in such a way that Vivo will bear all the losses. Sources said that the BCCI will not only get the contracted amount from Vivo, but will also get paid in proportion to the increase in the number of matches for IPL 2022 and IPL 2023.
Vivo had agreed to pay Rs 484 crore for IPL 2022 and Rs 512 crore for IPL 2023 due to the increase in the number of matches during the upcoming two seasons.
Vivo was to pay Rs 996 crore to BCCI for the next two seasons. Now the Tata group has pledged Rs 670 crore for the same period, from which the loss will be borne by Vivo.
Not only will Vivo pay the transfer fee , but as per the understanding of the contract, Vivo will also pay the ‘transfer fee’ to the BCCI as happened when Oppo transferred its rights to Byju’s. All this will be worth over Rs 600 crore for BCCI from the title sponsorship slot. As per the report, for the first time ever, BCCI has filled all the six official partner slots of IPL. Swiggy Instamart and RuPay are the new additions. Both are paying in the range of Rs 48-50 crore. The BCCI title sponsorship slot will add Rs 550-600 crore to the board’s coffers. Paytm continues as the official partner and CEAT as the strategic timeout partner, the report said.