The much awaited IPL 2020 has currently been left without a title sponsor after the BCCI suspended contract with Chinese smartphone giants Vivo. It has been speculated that the decision was made after the current Indo-China stand-off.
As per the sources, it has been reported that Amazon, Dream11, Byjus, ycircle11 and Uncademy are in the race to land the title sponsor deal of the IPL2020. Now, the news has come out that Patanjali, an ayurvedic firm set up by the Yoga guru Ramdev, might join the competition to sign the deal with BCCI.
Patanjali spokesperson SK tijarawala said in his statement, “We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform.”
However, Tijarawala also added that the company is yet to take a final decision on the issue.
BCCI issued an expression of interest for the title sponsorship on Monday, with a precondition that the interested third party must have a yearly turnover of Rs 300 crores or more as per their last audited accounts.
Though there was no mention of any reserve prize set for the sponsorship, it is learnt BCCO are willing to accept as low as 50% of the value Vivo India paid i.e., Rs 440 crore per annum due to the urgent need of the hour.
As per the BCCI’s statement on Aug 6 said Vivo’s sponsorship suspension was a joint decision. A board official though said “the prevailing anti-China sentiment made the co-existence very difficult for both parties.” The official refused to comment on Patanjali’s expression of interest, but said, “if any home-grown company comes in, it will only help the league this year, forced to go overseas due to the pandemic.”