Future Group has withdrawn from the IPL central sponsorship
A BCCI official told PTI, “Yes, Future Group has withdrawn from the IPL central sponsorship. That is why their logo has been removed from the IPL website. I can’t go into detail at this point. ‘
When contacted by an official of Future Group, he declined to comment However, insiders in the industry have confirmed that this could be due to the company’s financial health According to sources, Future Group is currently in bad shape. It was forced to do so because the company could not spend Rs 40 crore on part of the BCCI’s central sponsorship pool. So it’s no surprise that IPL sponsorship has been scrapped. “
The country’s sponsor Future Group withdrew before the ball was rolled on the field in the 13th edition of the IPL in the desert city. The local retailer decided to move away from the BCCI’s central sponsorship list. At present, the whole world is fighting against the economic recession India is no exception This company of the country is in the process of acquisition So the loss-making Futures Group has been forced to move out of IPL sponsorship.
He added: ‘Right now, Future Group is going through a restructuring phase and has been in discussions with multinationals about its possible acquisition in the next few weeks. So at the moment, sponsoring sports events is not a top priority for Future Group. “
Chinese mobile company Vivo withdrew from IPL title sponsorship last month due to Indo-Chinese political unrest. BCCI 7 then called for a tender and found a new title sponsor Fantasy gaming firm Dream 11 will be seen as the title sponsor in the 13th edition of IPL.
So far, only four sponsors have been featured on the IPL website. These are Tata Motors (Ultroz), Paytm and Seat Tire as well as the title sponsor Dream 117-Kolkata24.