A couple of days back the cricket governing body in India suspended its contract with the Chinese firm Vivo for this year’s Indian Premier League (IPL). The Board of Control for Cricket in India (BCCI) arrived at the decision pertaining to the on-going border tension between India and China following the Galwan valley incident in June. The Chinese mobile phone brand Vivo was the title sponsor for the money-spinning league.
BCCI had entered into a contract with Vivo in 2018 of more than $330 million and the contract was due in 2022. Meanwhile, after officially suspending their contract with the Chinese firm, BCCI is looking for bidders for the title sponsor of the 13th season of IPL.
The latest update suggests that Baba Ramdev’s Patanjali Ayurved is ‘considering’ making a bid for the title sponsorship for the upcoming season of the IPL. A Patanjali spokesperson said that the title sponsorship in IPL would help the Haridwar based firm get access to the global market. Currently, Patanjali is aiming to captivate the overseas markets by exporting their FMCG goods.
Speaking of the same, the Patanjali spokesperson said that they’re considering it. He said, “This is for Vocal For Local and making one Indian brand as global, this is the right platform. We are considering into that perspective.”
The spokesperson also mentioned that the company is yet to make a final call on the decision but hinted at a possibility of it actually happening.
The title sponsorship is a crucial part of the IPL’s commercial revenue, half of which is shared equally by the eight franchises.
It will be interesting to see who will be the title sponsor for the IPL 2020. The money-spinning league will be staged in the UAE this year owing to the rise in COVID-19 patients in India.