The Board of Control for Cricket has formally announced a “members-only payment platform” CRED as the official partner for the Indian Premier League.
SportsFront has first reported on August 12 that the Indian cricket board has closed two “official partner” deals for the IPL. E-education platform Unacademy was the other one.
The BCCI has announced CRED as an official partner of the Indian Premier League 2020.
CRED is a Bangalore based credit card bill payment platform. The 13th IPL is scheduled to be held in UAE from September 19 to November 10.
BCCI president Sourav Ganguly congratulated the board for sealing the deal “in spite of tough markets”.
It is a three-season partnership which will see the association run through till the 2022 season.
CRED, which allows users to pay credit card bills through its mobile applications, aims to make financial decisions smooth and rewarding for its members.
Mr Brijesh Patel, Chairman, IPL, said: “We are very pleased to have CRED on board as the ‘Official Partner’ of the Indian Premier League 2020 to 2022. IPL is one of the most innovative sporting leagues of the world and we are delighted to have a brand as unique and innovative as CRED partner us. I am sure more people across the country will take notice of them as we embark on this exciting journey.”
Kunal Shah, Founder and CEO, CRED, said: “We are extremely pleased to be associated with IPL, without a question among the most high-profile events on the world’s sporting calendar. CRED is aimed at giving millions of people access to a good life through improved credit standing, trusted community, and special experiences.
“IPL represents the pinnacle of consumer experiences, powered by a global community of cricketers, fans and enthusiasts. We look forward to participating in this festival of sporting excellence, which celebrates peak performance for the individual, the team and the community. Through this synergy, we want to celebrate and recognize millions of Indians who hold the same values that IPL and CRED cherish.”
This has been a tough year for the BCCI with regard to the IPL sponsorships. The board had suffered an almost 50% loss in the bargain to get Dream11 as the title sponsor in place of Vivo. The Dream11 has made a successful bid of ₹ 222 crores, whereas Vivo’s five-year commitment was valued at 2,219 crores at ₹ 440 crores per annum.
Unacademy had also submitted a bid for the IPL title rights, but their offer was far below than what Dream11 put on the table. Byju’s was the other bidder for the title.
The IPL 2020 will be played in the UAE from September 19 to November 10.