IPL 2021: Upstox outplayed Groww to become the official partner of IPL 2021.
Upstox outplayed Groww: Indian Premier League has brought in another official partner for the coming years. The Ratan Tata backed cost-effective brokerage company Upstox has outplayed the online investing company Groww to become the official partner of IPL. Both the companies were in the race to be partners with the Indian T20 League and according to The Times of India, Upstox outbids the Groww.
BCCI is now planning to expand the hands so that all the losses in the past season can be recovered. As per the reports, IPL will have 5-6 official partners for the coming year and Upstox has joined the lead. It is learnt that both BCCI and Upstox have signed a three years agreement worth INR 45 Crores per annum.
E-education platform Unacademy, fantasy platform Dream 11, Cred and Tata Motors are already on board for the official partnership.
The mobile manufacturing company Vivo will be the official sponsor of the IPL 2021. Vivo has been aggressively looking for exiting the partnership worth INR 440 Crores, however, the company failed to find any takers at such a huge price point.
Vivo was roped in by BCCI for the title sponsorship of the Indian Premier League back in 2018. According to the sources, Vivo will keep grinding to find any takers at the same price in the market until the 11th hour for the title sponsorship of IPL.
The Chinese mobile giant, Vivo pulled back from the IPL 2020 after the Galwan Valley Clash between the soldiers of India and China. Dream11 made a successful bid of INR 222 Crores to gain title sponsorship rights for the year 2020.
With BCCI, pulling back Vivo as the title sponsor, Dream 11 will become the official fantasy partner for IPL and BCCI. Vivo’s contract with BCCI will end in the 2022 season of IPL.
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