The upcoming IPL season that is going to take place in UAE may get the name “Patanjali IPL” as the company has decided to bid for the title sponsorship. According to a report published in Economic Times, Baba Ramdev’s Patanjali is planning to participate in the bidding process. Recently VIVO, the title sponsor of IPL, stepped back creating a slot for companies to bid for the title sponsorship.
ET quoted SK Tijarawala, official spokesperson, Patanjali, saying, “We are considering the IPL title sponsorship for this year since we want to give the Patanjali brand a global marketing platform.” Though the matches will be played outside India and there is a possibility that the stadium will remain empty during the matches, IPL will remain a high-value asset for the sponsors due to its viewership on multiple platforms.
Jio, Amazon, Adani among others in the race of title sponsorship
In the deal struck between VIVO and IPL in 2018, the company agreed to pay 440 crores for title sponsorship. On 8th August, BCCI announced that VIVO would not be the title sponsor for IPL 2020. The company may return as a sponsor next year but it too early to say anything about it. As of now, BCCI has offered up to 50% discounts to the potential title sponsors. The companies that may bid for the title sponsorship include Jio, the Tata Group, Adani Group, Amazon and Byjus among others.