News Karnataka
Thursday, November 30 2023

For the first time in 15 years, IPL sponsorships cross Rs 1,000 crore

IPL sponsorships
Photo Credit : IANS

New Delhi: The BCCI this year will earn little over Rs 1,000 crore from the Indian Premier League (IPL 2022) central sponsorships, Inside Sport reported.

This will be a new record for IPL sponsorships revenue generated by BCCI till date in 15 seasons of IPL. The BCCI this year has signed a new title sponsor in the form of Tata and also two new associate sponsors.

The IPL GC recently announced new deals with RuPay and Swiggy Instamart as central sponsors for IPL. The board for the first time has filled all NINE IPL sponsorships slots for the season, the report said.

The big increase is coming from two sources for the BCCI. First of all the number of sponsors has increased this year.

The IPL GC recently announced new deals with RuPay and Swiggy Instamart as new central sponsors for IPL. The board now has 9 top brands on board for IPL and all slots for sponsorships are filled.

According to available information, the deal with RuPay & Swiggy is in a range of Rs 48-50 crore per annum, Inside Sport reported.

The second gain for the BCCI is coming in from the title sponsorship deal. Though the Tata group is paying Rs 335 crore which is less than what Vivo was paying – but still the BCCI will earn almost 30-40 per cent more.

According to the sources, the IPL sponsorships deal has been transferred in a manner that all deficit will be borne by VIVO.

The sources informed InsideSport that BCCI will not only get the contracted amounts from VIVO but will also get pro-rata payments of 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 on account of increase in the number of matches during the two forthcoming seasons.

VIVO was supposed to pay Rs 996 crore to the BCCI over next two seasons. Now with Tata group pledging just Rs 670 crore for the same period, the deficit will be borne by Vivo.

Not only this – but as per the contractual understanding, Vivo will also pay ‘transfer fee’ to the BCCI as was the case when Oppo had transferred their rights to Byju’s.

All this will rake in Rs 600 crore plus for BCCI from the title sponsorship slot.

As per the report, BCCI for the first time has filled all six IPL official partner slots. Swiggy Instamart and RuPay are the new additions – both paying in the range of Rs 48-50 crore, Inside Sport reported.

BCCI title sponsorship slot will add Rs 550-600 crore to the board coffers.

PayTM is continuing as official partner and Ceat as strategic timeout partner, the report said.

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