In a recent statement, Vodafone Idea Limited said that it has become the co-presenting sponsor of the upcoming Dream11 IPL 2020, scheduled to commence from September 19, 2020. The sponsorship announcement comes close on the heels of the leading telecom operator, Vodafone Idea Limited’s rebranding under a unified brand – Vi.
The telco has acquired the co-sponsorship rights of the live broadcast of T-20 premier league which will be held in Abu Dhabi, UAE and telecast on the Star Sports network.
“Our association with Dream11 IPL 2020 will provide Vi, instant connect with millions of viewers, and I am confident that this will not only help build awareness of Vi but also help in building relevance and customer confidence. I am sure Indians will be delighted to see us back on Dream11 IPL, albeit in a new avatar.” Said Kavita Nair, Chief Digital Transformation & Brand Officer, Vodafone Idea Limited.
Vodafone Idea is supposed to pay Rs 50,400 crore to the telecom department for dues including licence fee, spectrum usage charge, penalties and interest on penalties as per the apex court’s order.
The Supreme Court’s verdict on telecom sector dues will not be able to stabilise Vodafone Idea’s position as the debt-laden telco is expected to continue losing subscriber market share, Fitch Ratings said recently.
It further added that Vodafone Idea’s USD3.4 billion (RS 25,000 crore) fund raise plan is unlikely to restore its competitive position and reverse subscriber losses. He reasoned this with the fact that the amount is insufficient for capital expenditure.