As reported by InsideSport earlier, the Indian Premier League (IPL 2020) has got new Central Sponsor on board. Confirming the InsideSport report of 26th August, BCCI has announced, credit card payment app CRED as new official partner for the IPL 2020.
Last week BCCI had announced Unacademy as one of the official partners and now with announcement of Credit Card payment company CRED, BCCI has filled up all 3 official partnership slots.
Mr Brijesh Patel, Chairman, IPL, said: “We are very pleased to have CRED on board as the ‘Official Partner’ of the Indian Premier League 2020 to 2022. IPL is one of the most innovative sporting leagues of the world and we are delighted to have a brand as unique and innovative as CRED partner us. I am sure more people across the country will take notice of them as we embark on this exciting journey.”
Kunal Shah, Founder and CEO, CRED, said: “We are extremely pleased to be associated with IPL, without a question among the most high-profile events on the world’s sporting calendar. CRED is aimed at giving millions of people access to the good life through improved credit standing, trusted community, and special experiences. IPL represents the pinnacle of consumer experiences, powered by a global community of cricketers, fans and enthusiasts. We look forward to participating in this festival of sporting excellence, which celebrates peak performance for the individual, the team and the community. Through this synergy, we want to celebrate and recognize millions of Indians who hold the same values that IPL and CRED cherish.
”Earlier after sudden pull out by the Future Group and elevation of Dream11 as IPL 2020 Title Sponsor, BCCI were left with two vacant slots for the IPL partnership slots this year. Now with Unacademy and CRED filling up the slots, BCCI can breathe easy.
IPL 2020 : BCCI’s revenues from Central Sponsorships down by 30% at this stage
As per the informational available with InsideSport, BCCI made 618 Cr from the IPL 2019 Central Sponsorships.
1 – Title Sponsor – VIVO – 440 Cr
3 – Official Partners – Tata Motors, FBB & Dream 11 – 120 Cr
1 – Umpire Sponsor – PAYTM – 28Cr
1 – Strategic Timeout Partner – CEAT – 30Cr
Total Central Sponsorship Revenues in IPL 2019 – 618 Cr
Even with CRED & Unacademy officially signing up on IPL 2020 deals, central pool values are still down by 30%. Primarily due to the 50% value erosion for the IPL 2020 Title Sponsorships.
1 – Title Sponsor – Dream11 – 222 Cr
2 – Official Partners – Tata Motors, Unacademy, Cred – 120 Cr
3 – Umpire Partner – 28Cr
4 – Strategic Timeout partner – 30 Cr
Total Central Sponsorship Revenues in IPL 2020 – 360 Cr at this stage.