IPL 2021 sponsors: Ratan Tata-backed company upstages GROWW in last-minute ₹45 CR bid

The list of sponsors for the Indian Premier League (IPL 2021) is growing year by year and the cash-rich league is all set to welcome yet another sponsor on board with Ratan Tata-backed cost-effective brokerage firm Upstox set to join the bandwagon. 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, are also likely to extend their contract.

Also Read: IPL 2021: BCCI Gives Huge Update To Fans On Venue Of Competition, Decision On Dates

Upstox to become part of IPL 2021

Just a couple of days back Insidesport had reported that GROWW, an online trading and wealth management company, was all set to join as IPL bandwagon.by signing a 3-year agreement, which is valued at ₹45 crore per annum, however recently Upstox outbidded GROWW at the last minute and are reportedly signing ₹45 Crore per annum deal with IPL.

Also Read: MS Dhoni And Co. NOT To Get Skoda As Sponsor, Will Myntra Replace Them In ₹22-23 CR Deal?

The company offers online stock market investment services, advisory services, mutual fund investments and completes with the likes of Zerodha and Groww. It has raised about $29 million till date from investors like Tiger Global, Kalaari Capital, GVK Davix, Ratan Tata and others. Apart from Upstox, IPL Chairman Brijesh Patel welcomed back VIVO on board as IPL title sponsors the announcement regarding which was done during the recently completed IPL 2021 auction. 

Also Read: IPL 2021 To See Dream11 Return As Official Partner, GROWW Joins List After ₹45 CR Deal

IPL VIVO deal

Speaking about the IPL VIVO deal, the BCCI had to suspend its ₹440 crore per year deal with Chinese smartphone making company last year because of the anti-China sentiment across the country post the India-China standoff at the Galwan Valley, where 20 Indian soldiers were martyred in June 2020. However, the speculations over the 2021 IPL title sponsor, was put to rest by the BCCI by confirming the resumption of their deal with Chinese company for this year’s tournament. IPLfantasy 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.

Also Read: IPL 2021 To Have VIVO Return As Title Sponsor, Fans React With Surprise

BCCI looking for 6th official partner before IPL 2021

Apart from news about Upstox coming on board during IPL 2021,  Insidesport in it's previous report had also mentioned about BCCI looking for 6th official partner before IPL 2021. Sources close to the board told the website that the league is also in discussion with two other brands in order to bring them on board and if all goes well, the BCCI is likely to have its 6th Official Partner before the IPL 2021. Besides getting new sponsors on board, the BCCI also has deals with Unacademy and CRED as official partners.

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