BCCI is getting 50 percent less money under the new IPL sponsor
The BCCI is getting 50 percent less money than before under the new IPL title sponsors. Dream XI is the title sponsor of the 2020 franchise-based cricket tournament in India.
The Mumbai-based Fantasy Sports Company will pay around Rs 252 crore (Rs 222 crore, US ২ 29.7 million) for this year’s event. Dream XI has overtaken Baijus and Unacademia to get this title.
However, according to the BCCI rules, there is no rule that you have to bid the most to get this right. Rather, the decision was taken after considering some more issues.
Prior to this, the title sponsorship of IPL since 2015 was with Vivo, a China-based mobile phone company. After two years in 2015, they also renewed the contract from 2016-22. They were to pay a total of about Rs 2,499 crore (Rs 2,199 crore, US ৪ 341 million) to the BCCI under the five-year contract. As such, the annual income of the BCCI was around Rs 500 crore. It has come down to 252 crores now.
The BCCI has said it has been considering Vivo’s deal since tensions and clashes on the border with China. However, they decided to cancel the contract with Vivo as soon as the UAE venue and the schedule was fixed.
The new sponsor Dream XI, however, has been with the BCCI for some time. They also have a fantasy sports deal with the ICC. Earlier, they had sponsored some domestic tournaments in New Zealand.
The revenue from the new sponsors is not only declining for BCCI, but also for the franchisees. IPL runs on the ‘dividend share’ model, about 50 percent of the title sponsor’s money goes to the franchisees. As before, they used to get around Tk 22.72 crore a year.