IPL 2020 loses beleaguered Future Group as associate sponsor after 5 years?

The Indian Premier League 2020 (IPL 2020) season is all set to launch in the United Arab Emirates (UAE) on September 19. With less than a month away from the tournament, Indian conglomerate company Future Group has pulled out of their deal with the Board of Control for Cricket in India (BCCI) ahead of the mega tournament. The Future Group was one of the associate sponsors of the IPL 2020 and according to a BCCI source, the Indian board is currently looking for their replacement.

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IPL 2020: IPL sponsors dilemma continue after IPL Dream11 deal

While speaking with the InsideSport, a BCCI official confirmed the pull-out of Future Group from the much-awaited IPL 2020 season. The Indian conglomerate was associated with the tournament for the last five years. According to a report by the publication, Future Group was paying ₹28 crore for their IPL central sponsorship each year. Several market sources believe that the company has been struck economically by the ongoing global pandemic, thus prompting them to make an exit from the tournament.

The latest IPL sponsors fiasco comes after BCCI suspended their deal with VIVO, a China-based smartphone company in August. The VIVO deal as IPL sponsors faced suspension due to the rising political tensions between India and China. However, online fantasy sports app Dream11 replaced VIVO on August 18 with an IPL Dream11 deal for the 2020 season.

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Reliance Future Group deal a likely rescue for ex-IPL central sponsors

Already in financial trouble, the Kishore Biyani-backed Future Group is now expected to face a takeover from the Reliance Group. The long-negotiated Reliance Future Group deal is likely to be completed by the end of this month. Interestingly, the Reliance Group is carved out of Reliance Industries, the latter of which is the owner of a popular IPL franchise Mumbai Indians. Mumbai Indians is the most successful IPL franchise of all time (with four titles) and will also head into the IPL 2020 season as titleholders.

IPL 2020: IPL dates and venue confirmed

Scheduled to launch on September 19, the IPL 2020 season will run till November 10 across three UAE venues. The tournament was originally intended to launch on March 29 this year with a match between Mumbai Indians and Chennai Super Kings. However, the pandemic enforced a delay by five-and-a-half-months.

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Image credits: IPLT20.COM