How the title sponsorship of IPL soared from Rs 40 crore to Rs 440 crore
In twelve years, the IPL not only redefined cricket but also changed the sport’s economics in the country.
The league had roped in the real estate giant DLF as its title sponsor in its 2008 inaugural edition for a yearly contract of a Rs 40 crore, which lasted until 2012.
However, the tournament has since come a long way.
In 2018, The Board of Control for Cricket in India ( BCCI) was able to rope in Chinese mobile phone brand Vivo as the IPL’s title sponsor for a whopping Rs 440 crore per annum.
Nonetheless, a combination of the Chinese firm requesting a reduction in the amount of sponsorship due to the pandemic-caused economic crisis and public sentiment in India following the border conflict with China has led to Vivo’s withdrawal ahead of the tournament this year, which scheduled to take place in the UAE from 19th September.
But even then, the BCCI was able to rope in fantasy gaming start-up, Dream11 as the IPL’s title sponsor for Rs 222 crore. Dream11 has been a partner of BCCI and IPL for many years now, and also has a minority investment from a Chinese firm — Tencent Holdings.
Considered the world’s most successful franchise cricket league, the IPL has always attracted big investors. After the term of DLF expired in 2012, Pepsi secured the title rights for Rs 79.2 crore per year from 2013-2015. Vivo entered the scene with a 100 crore deal in 2016 and the figures increased by Rs 340 crore next year as the Chinese company agreed to shell out a whopping Rs 440 crore per year.
Let’s have a look on how theL title sponsorship rights of the IPL evolved since its inception:
2008 to 2012: DLF: Rs. 40 crore per annum
2013 to 2015: Pepsi: Rs. 79.2 crore per annum
2016 to 2017: Vivo: Rs. 100 crore per annum
2018 to 2019: Vivo: Rs. 440 crore per annum
2020: Dream11: Rs. 222 crore per annum