IPL 2020 Sponsorship Deal: BCCI to Announce Title Sponsor on August 18 After Final Bidding Process

The Board of Control for Cricket in India (BCCI) will announce the new sponsor for the Indian Premier League 2020 (IPL 2020) on August 18, Tuesday. The cricket board was looking for a new sponsor after VIVO, a Chinese cell phone maker, pulled out amid India-China tensions. Reportedly, around five companies have submitted their Expressions of Interest (EOI). And the final bid by interested parties is expected to be forwarded to the board between 11 am to 1 pm on August 18, 2020. The new sponsor will have the title rights for the current season only replacing VIVO. IPL 2020 Sponsorship Deal: As VIVO Pulls Out, Let’s Look at the Title Sponsors of Indian Premier League Over the Years.

As per the deal between VIVO and BCCI, the brand was paying around Rs 440 crore annually in the five-year deal, worth Rs 2,199 crores, which was set to end in 2022, It will now end in 2023 with VIVO back as title sponsor from next season. IPL 2020 Free Live Streaming: Star India Allows Jio to Stream Indian Premier League Matches Online Free on Select Plans, Claims Report.

It is expected that BCCI could make around Rs 300-400 crore from the IPL 2020 sponsorship. The new company will have the IPL 2020 title rights from August 18, 2020, to December 31, 2020. As per some reports, Tata Sons Byju’s, Unacademy, and Dream 11 were among the companies who have shown interest in IPL 2020 title sponsorship.

(The above story first appeared on LatestLY on Aug 17, 2020 07:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).