The 13th edition of the Indian Premier League (IPL) will witness its opening game on the 19th of September. However, the Board of Control for Cricket in India (BCCI) is still on the search for sponsors, which it will announce on the 18th of August. The race is entirely on between as many as five top-notch brands, who have submitted their EOI (Expressions of Interest) — as the BCCI invited it earlier this month.
Just 45 days ahead of the 2020 IPL, VIVO pulled out as sponsors due to the prevailing tensions between India and China on the border. It indeed was a significant step backwards for the cash-rich league since it yields a major chunk of the tournament’s commercial revenue. VIVO paid the BCCI staggering INR 440 crores annually for the five-year deal that began in 2017.
The likes of Unacademy, Dream11, Tata Sons, Byjus, and Patanjali have thrown their hat for the title sponsorship race.
On Sunday, Baba Ramdev, who owns the Patanjali Ayurvedic limited clarified that it will step up only if other Indian corporate houses fail to make the bidding. Due to the COVID-19 outbreak in India, the tournament will take place in the UAE this time, continuing till the 10th of November.
BCCI hopes to secure a deal of INR 350-400 crores:
Considering VIVO paid the BCCI INR 440 crores, BCCI will see the amount of 350-400 as a win-win situation for them. As per sources, Tata sons are the frontrunners for the moment.
The Indian cricket board clarified that the highest bidder might not necessarily get the deal. The decision will depend upon a lot of factors, including the impact of the company on ‘brand IPL’. Its president Sourav Ganguly refused to label VIVO backing out as sponsors as a financial crisis.