Chinese mobile manufacturer Vivo may transfer its title sponsorship rights to the Indian Premier League, with Dream 11 and the academy taking the lead in the race. Dream 11 was the title sponsor of the IPL 2020, which bought the rights for Rs 220 crore. Vivo had signed a contract of Rs 440 crore annually for a five-year agreement.
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It is understood that in the wake of tensions in political relations between India and China, Vivo believes that it would not be wise to continue this partnership. A board source said that it is almost certain that Vivo's IPL title sponsorship agreement is going to end with mutual consent. It was suspended in 2020. There is a provision that he can pay his outstanding liability to the new sponsor.
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However, this is possible only if the board is prepared in principle. There will be nine or ten teams in IPL 2022 and the new bidder is expected to get title sponsorship rights for at least three years. The source said that Dream 11 and Unacademy will put up a proposal in front of Vivo. Unacademy is the supporting sponsor and is willing to pay a large sum of money to take the rights from Vivo.