VIVO enters market to find sub-licensing partner; BCCI to use VIVO logo for auction

VIVO will remain the IPL title sponsor for the upcoming auction, or at least till they find a suitable replacement with a similar price guarantee. Ahead of the 2020 Indian Premier League, VIVO walked away from the sponsorship responsibility, leaving the BCCI in a jolt. But the IPL’s enormous brand resulted in the BCCI finding […]
 
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VIVO enters market to find sub-licensing partner; BCCI to use VIVO logo for auction

VIVO will remain the IPL title sponsor for the upcoming auction, or at least till they find a suitable replacement with a similar price guarantee.

Ahead of the 2020 Indian Premier League, VIVO walked away from the sponsorship responsibility, leaving the BCCI in a jolt. But the IPL’s enormous brand resulted in the BCCI finding a suitable replacement immediately as Dream11 took over.

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Despite Dream11 offering the BCCI a 20 Crore hike for the 2021 edition, the BCCI didn’t take the bait and asked VIVO to honour their responsibility. However, there is a problem there. With VIVO wrapping up its sports business in India, they are no more interested thus the onus is on them to get a replacement.

However, according to a report on Cricbuzz, the VIVO tag will still be there during the IPL auction, although it is believed that is a temporary solution till the new sponsor gets on board.

VIVO enters market to find sub-licensing partner; BCCI to use VIVO logo for auction

“We have been told that it will be called VIVO IPL till the auction as per the original agreement. The previous agreement was paused only till December 31 last year. So the original agreement has kicked in on January 1. Till an alternative arrangement has been made, the brand name will remain,” said a franchise official.

Another official added, “The BCCI is going by the book and is extending all the benefits to VIVO. It is now up to VIVO. Whether or not it is interested, it still will have to pay up.”

VIVO enters the market for sub-licensing

According to the initial contract, VIVO was supposed to pay Rs 440 crore per season, and thus they have entered the market for sub-licensing to match that amount.

They have employed media agency Group M to do the job, however, it must be mentioned that should the new company pay anything less than 440 Cr, VIVO will have to pay that amount to the BCCI.

It has further emerged that, after being initially rejected, Dream11 is no more interested to come on board once again.