Patanjali Ayurved to bid for IPL 2020 title sponsorship1 min read . Updated: 11 Aug 2020, 06:52 AM IST
BCCI is expected to offer a 20-30% discount on the deal pegged at ₹440 cr owing to tough market conditions
NEW DELHI : Yoga guru Ramdev-promoted Patanjali Ayurveda Pvt. Ltd will be bidding for the title sponsorship of the Indian Premier League’s (IPL) 2020 edition after an anti-China backlash forced Chinese smartphone maker Vivo to withdraw.
The Board of Control for Cricket in India (BCCI) and Vivo decided to mutually annul the sponsorship deal for this year’s T20 tournament being held in the United Arab Emirates from 16 September.
BCCI is likely to announce the tournament’s new title sponsor by 18 August with a seven-day window for interested companies to submit bids. It is expected to offer a 20-30% discount on the current sponsorship price pegged at ₹440 crore owing to challenging market conditions.
“IPL is in our consideration zone, we are looking at it, and see whether it can take the message of Atmanirbhar Bharat and be a brand carrier for this globally. Our strategy and stand has been to promote swadeshi, health-friendly games that can be accessed at the grassroots levels," S.K. Tijarawala, the company’s spokesperson, told Mint.
He, however, would not say how much the fast-moving consumer goods company is willing to pay for the title sponsorship.
Patanjali‘s interest in IPL was first reported by The Economic Times on Monday.
Patanjali is no stranger to sports sponsorship, but it has never sponsored a cricket tournament. As per its nationalist and home-grown brand ethos, it has been associated with non-cricket, indigenous sports.
Patanjali had bagged co-presenting rights for the Kabaddi World Cup in 2016 and has also sponsored season two of the Pro Wrestling League.
The brand strategy is to target young people in urban areas—a segment where Patanjali has not really seen the kind of success it has elsewhere.
“Now, we are considering cricket; it is the right platform and the bridge between the globe and India. In principle, we are considering it and we have to take the opinion of our stakeholders," Tijarawala said.
In 2017, Patanjali told Mint that it will be associated only with Indian sports and events that build on Indian culture. “We will never sponsor cricket. That’s not an Indian sport," the spokesperson had then said.
Other firms reported to be interested in the IPL title sponsorship include e-learning platform Byju’s, Coca-Cola India, Paytm and Amazon.