IPL 2021: In a business first, event names Indian digital brokerage firm as sponsor

Ratan Tata-backed cost-effective brokerage firm Upstox will be finally joining the IPL 2021 sponsors list after the Board of Control for Cricket in India (BCCI) officially made the announcement regarding the partnership with the firm. Upstox outbid Groww at the last minute and are reportedly signing a ₹45 crore per annum deal with the Indian Premier League. This will be the second Tata-backed company that will be associated with the cash-rich league after recently it was reported that Tata Motors, which has completed its 3-year deal with the IPL, is also likely to extend its contract.

 

IPL 2021 sponsors: All you need to know about Upstox

The company offers online stock market investment services, advisory services, mutual fund investments and competes with the likes of Zerodha and Groww. It has raised about $29 million to date from investors like Tiger Global, Kalaari Capital, GVK Davix, Ratan Tata and others. 

IPL chairman Brijesh Patel was elated with the partnership and said that this partnership can create a huge impact on the audience, especially the millions of Indian youth who are financially independent and looking for more options to manage their portfolios.

Ravi Kumar, Co-founder & CEO of, Upstox said the organisation is thrilled to become a partner with BCCI for IPL 2021. He also said that  IPL has paved a bold new direction to Indian cricket in the last decade just like Upstox, which is revolutionising finance in India. He further said that the integration of sports and finance will help the company to spread financial awareness across the country.

 

VIVO IPL deal

Upstox will not be the only sponsor coming on board this season, VIVO will also be back as the official title sponsor of IPL 2021. The BCCI had to suspend its ₹440 crore per year deal with the brand during IPL 2020 last year because of the anti-China sentiment across the country post the India-China standoff at the Galwan Valley, however, the BCCI recently confirmed the resumption of their deal with the Chinese company for this year’s tournament. IPL fantasy partner Dream11 did try retaining the title sponsorship rights for the IPL 2021 by making an offer to VIVO, but the deal could not go through as an offer of ₹250 crore per annum was far below the expectations of VIVO.

 

IPL 2021 schedule

On March 7, the BCCI released the entire IPL 2021 schedule which had major changes in it. All matches will be played at neutral venues across six different stadiums. The aforementioned move was made to avoid home advantage for teams, considering that matches will not be held in the home grounds of Punjab Kings, Sunrisers Hyderabad and Rajasthan Royals.

A total of 56 league matches will be played with each of the eight competing teams facing each other twice. The double round-robin format will be followed by the playoffs and the final will be played at the newly-renovated Narendra Modi Stadium in Ahmedabad on May 30. 

Image: IPL/ Twitter