In 12 years, the Indian Premier League (IPL) has not solely redefined cricket, however has additionally modified the economics of the game within the nation.
In its inaugural version in 2008, the league had roped in actual property big DLF as its title sponsor for a Rs 40 crore a yr deal – which lasted until 2012.
Nonetheless, the event has come a great distance since.
In 2018, the Board of Management for Cricket in India (BCCI) managed to rope in Chinese language cell phone model Vivo because the title sponsor for a whopping Rs 440 crore a yr.
Nonetheless, a mixture of the Chinese language agency looking for a discount within the sponsorship quantity due to the pandemic-caused financial disaster and the general public sentiment in India following the border stress with China had led to Vivo’s exit forward of this yr’s event, which is scheduled to be held within the UAE from September 19.
However even then, the BCCI has managed to usher in fantasy gaming start-up, Dream11, as its title sponsor for Rs 222 crore. Dream11, which has been a BCCI and IPL companion for a few years now, additionally has a minority funding from a Chinese language agency — Tencent Holdings.
Thought of probably the most profitable franchise cricket league on the earth, the IPL has at all times attracted large traders. After DLF’s time period expired in 2012, Pepsi bought the title rights from 2013-2015 for Rs 79.2 crore per yr. In 2016, Vivo entered the scene with a 100 crore deal and subsequent yr, the figures went up by Rs 340 crore because the Chinese language firm agreed to shell out a whopping Rs 440 crore per yr.
A have a look at how the IPL title sponsorship rights have developed since its inception
2008 to 2012: DLF: Rs. 40 crore per yr
2013 to 2015: Pepsi: Rs. 79.2 crore per yr
2016 to 2017: Vivo: Rs. 100 crore per yr
2018 to 2019: Vivo: Rs. 440 crore per yr
2020: Dream11: Rs. 222 crore per yr