Tata Sons eyes IPL title sponsorship1 min read . Updated: 15 Aug 2020, 07:11 AM IST
BCCI board may announce the new title sponsor by 18 August after deciding on the lead sponsor
NEW DELHI : The battle for the title sponsorship of IPL 2020 intensified on Friday as Tata Sons Ltd, which controls India’s leading salt-to-steel conglomerate, said it has submitted an expression of interest (EoI).
“We confirm we have submitted an EoI," a spokesperson for Tata Sons said, confirming the company’s intent to sponsor the title rights of the popular T20 cricket league.
To be sure, EOI submission doesn’t mean that the company will get to bid for the title sponsorship. This came after BCCI, India’s top cricket governing body, on Monday invited firms to submit EoIs for the title sponsorship of the four-month-long IPL 2020.
Friday was the last day for prospective sponsors to submit their offers for the annual cricketing event slated to be held from 18 September in the United Arab Emirates. The bid is open to firms with annual revenue of at least ₹300 crore.
Mint has earlier reported that online learning platform Byju’s, as well as Unacademy, intend to bid for the sponsorship rights. Byju’s intends to place a ₹300 crore bid, Mint said, citing a person familiar with the company’s plans.
The BCCI board may announce the new title sponsor by 18 August after deciding on the lead sponsor. BCCI has made it clear that the sponsorship will not necessarily go to the highest bidder—it will also review the marketing potential and weigh the likely impact of the association on the IPL brand.