IMG retains its contract with IPL for the next five seasons

After Vivo India retained its sponsorship title rights with a mammoth Rs 2199 cr for five-years, BCCI retained the services of International Management Group (IMG) for the next five editions of Indian Premier League beginning 2018. IMG has been involved with the IPL since its inception. BCCI will be paying Rs 167.5 crore to the company for the services of the company.

Indian Premier League post the 10th edition faced a lot of dilemma for the future especially due to the simultaneous termination of contracts in a variety of fields. VIVO’s association with IPL expired and the Governing Council decided to launch a tender for title sponsorship bids. Also, Sony’s association with the cash-rich league ended with the finals and there won’t be any Extraa Innings T20 further if their contract is not renewed.

IMG to receive Rs 167.5 crore from BCCI

Event managers of the tournament for the past ten editions, IMG’s contract needed to be renewed for smooth conduct of operations for the league. The agency has been involved in conceptualising and executing the tournament since its inception. Had they not received the rights in the next tender, it would have been very difficult for the new firm into the high-octane atmosphere of the tournament.

Just after the tournament ended this year, BCCI scheduled a meeting to decide when the auctions are going to take place. IPL Chief Rajeev Shukla termed the meeting as successful as they Governing Council finalised on the timelines for the bidding to be taken place. Shukla stated that looking at the successful season of 2017, they hoped to obtain the value for the cricketing mega-event.

“I’m pleased that both the governing council and CoA members have finalised the timelines for the next rights period. If the success of 2017 season is an indication, I believe we will be able to get the best value and service for the world’s premier Twenty20 extravaganza. The early announcement will also help the prospective bidders/service providers to prepare well,” quoted Rajeev Shukla according to Times of India. Vivo can now take a sigh of as they are the title sponsors for the next five years