New Delhi: Education technology company Unacademy and fantasy sports Platform Dream11 have submitted their expression of interest to become title sponsors of this year's Indian Premier League, replacing Chinese mobile phone company Vivo.
Friday was the last date of submission of 'EOI' to the BCCI. The IPL will be held from 19 September to 10 November in the UAE this year.
"Yes, Unacademy and Dream11 have submitted their EOIs for the title sponsorship bid of IPL," a senior BCCI source privy to the development told the PTI.
While there is a lot of speculation about Tata Motors also joining the fray but it couldn't be confirmed whether the company has thrown its hat in the ring.
"The EOI doesn't have to mention the bid amount. It will be sent on 18 August," the official said.
"Post the delivery of the EOI, BCCI shall inform the rights, product categories and entitlements to the interested third parties. The final bid should be sent to email@example.com between 11 am to 1pm on August 18, 2020," the BCCI has already stated.
The BCCI has made it clear that the highest bidder might not get the title sponsorship unless the parent body is satisfied with the its plan for the high-valued brand.
"A lot of times, some unknown organisations can bid insanely and then you might find there are questions regarding their credibility. Also what if a company, with sizeable Chinese investment, bids?
" Then the whole postponement of partnership with Vivo will look very stupid," a veteran official said.
It is expected that if Tata Sons and Jio Telecommunications enter the fray, the bidding war might take an interesting turn as many in BCCI feel that Vivo's annual Rs 440 crore deal can be matched even if it is for a period of four months and 13 days.
Vivo and BCCI postponed their partnership for one year due to the prevailing Sino-India border stand-off.
Anything in the range of Rs 300 to Rs 350 crore will be a victory for the BCCI in a hostile economic climate caused by the COVID-19 pandemic.
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Kolkata Knight Riders knocked Delhi Capitals out with a three-wicket win in Qualifier 2, setting up a repeat of the 2012 final with Eoin Morgan's men now facing Chennai Super Kings in the final.
The bidding took place at the Taj Hotel in Dubai on Monday and it is the RP-Sanjiv Goenka Group (RPSG) (Lucknow) and CVC Capital Partners (Ahmedabad) who will join the cash-rich league as the new owners.
The Goenka-owned RPSG Group became the highest bidder, while CVC Capital pipped Adani Group to win the bid for Ahmedabad with Rs 5,600 crore offer.