The Indian Premier League (IPL) is set to make a return with its 2020 season amidst the ongoing coronavirus global crisis. Originally intended to launch on March 29, the IPL 2020 will now be played between September 19 and November 8 in the United Arab Emirates (UAE). Despite the announcement of new IPL dates that pretty much confirms the return of the cash-rich Indian T20 tournament, recent reports indicate that IPL 2020 franchises are facing some financial downturn due to the pandemic.
Several IPL 2020 franchise officials close to the publication have admitted that some sponsors have pulled out of their deals. The report indicates that every IPL 2020 franchise has lost at least one of their team jersey sponsors, with as many as three of them have lost their front jersey partners. One of the officials recently said that while franchises are happy with the new IPL dates announcement, they are facing issues with their respective sponsors.
A CEO of one of the franchises claimed that sponsors are “badly hit” by the pandemic and also cited a different weather cycle for IPL 2020 as one of the reasons. The tournament is usually played during Indian summers, but the pandemic-induced new IPL dates have shifted the event to Indian winter this time around. The official said that sponsors advertise according to the weather cycle so claimed that it does not make sense for an air-conditioner brand to advertise in October-November.
By citing the example of an air conditioner brand, the official was most likely referring to Daikin, who was the official jersey sponsor of the Delhi Capitals. The CEO later expressed hope of finding some last-minute replacements for the sponsors who have pulled out.
The report also claims that franchises like Rajasthan Royals, Kings XI Punjab (KXIP), Sunrisers Hyderabad and Delhi Capitals are among the worst-hit ones in terms of losing their respective IPL 2020 sponsors. Earlier, Dubai Expo 2020 reportedly signed a hefty deal with Rajasthan Royals for the much-awaited season. However, the deal between the expo and Rajasthan Royals got postponed by at least by a year due to the pandemic as the global trade event was pushed back to October 2021.
