Indian cricket is gearing up for a show of strength and whatever
happens between now and the next 72 hours will determine the size of the game's
financial muscle in the country, especially in the middle of an unrelenting pandemic.
The BCCI has decided to expand its official partners in the Indian Premier League (IPL) from three to five - looking to bring two additional
partners at an average commitment of Rs 40cr each - and are aiming to raise
anywhere around Rs 300cr in the wake of Vivo's exit.
The cricket board is zeroing in on a "substantial
deal" and could end up throwing a surprise by the end of the week where
the title rights are concerned. "There's chatter about Amazon, Byju's, Dream
11 being in the race. But expect BCCI to spring a surprise," say those
tracking developments.
Considering the deal will only be for a four-month
window, anything in the given range will be heralded a huge victory not just
for Indian cricket but in the global sports industry.
With a Chinese company opting out for this year and causing a Rs 450cr
deficit in the sponsorship market, industry executives insist "it is now a
matter of prestige for India Inc to show that its most valuable property -
Indian cricket - can sustain".
Vivo
India was committed to pay the BCCI an approx. Rs
440 crore for five years after coming on board in 2018 but find itself out this
year due to external factors. At around Rs 300cr, the board will succeed in
making up for at least 3/4th of the loss brought about by Vivo's exit. The
question doing the rounds in India's fledgling, but energetic sports industry
is "can that kind of money be raised in a year devastated by Covid?"
The fact that the new title sponsor will get only a four-month rights window -
until December - for any brand activation or purposes of obvious
discernibility, makes the task all the more challenging.
Industry sources say BCCI has received verbal commitments from e-learning app
Unacademy and credit card payment platform Cred to come aboard as official
partners, subject to the title bid. "If Byju's attempt to bid for the
title rights succeed, Unacademy will have to make way or make a higher
bid," say those in the know.
Sandip Ginodia , CEO
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