Cricket

IPL 2020: Patanjali consider bidding for upcoming edition's title sponsorship after Vivo's exit

  • Press Trust of India
  • August 10th, 2020
  • 13:49:30 IST

Baba Ramdev's Patanjali Ayurved is considering to bid for the title sponsorship of the upcoming Indian Premier League (IPL), according to a company official.

The slot of the title sponsorship of IPL was vacated after the Chinese handset maker Vivo decided to exit from it.

The move would help the Haridwar-based firm access a global marketing platform, as Patanjali is focusing on exports for its Ayurveda-based FMCG products.

Representational image. Image courtesy: Twitter @BCCI

Representational image. Image courtesy: Twitter @BCCI

Confirming the development, Patanjali spokesperson SK Tijarawala told PTI: "We are considering this".

"This is for Vocal For Local and making one Indian brand as global, this is the right platform. We are considering into that perspective," he said.

However, Tijarawala also added that the company is yet to take a final call on the issue.

"We have to take a final decision, whether we would take it or not," Tijarawala added.

According to him, the Board of Control for Cricket in India (BCCI) is coming with the expression of interest on Monday and it has to submit its proposal by 14 August.

Last week, BCCI and Vivo decided to suspend their partnership for the 2020 IPL beginning on 19 September, in the UAE, amid clamour to boycott Chinese products in the wake of the Sino-India border stand-off.

The title sponsorship is a significant part of the IPL's commercial revenue, half of which is shared equally by the  franchises.

Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per annum.

The Haridwar-based Patanjali group has an estimated turnover of around Rs 10,500 crores. It had acquired debt-ridden Ruchi Soya in a corporate insolvency resolution process for around Rs 4,350 crore after competing with Adani Group.

Patanjali Ayurved had reported a revenue of Rs 8,329 crore in FY 2018-19. However overall the group's turnover was much higher as Patanjali Ayurved consists of mainly its FMCG business and its Ayurvedic medicines.

Updated Date: August 10, 2020 13:49:30 IST

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

IPL 2020: Sam Curran surprised by 'genius' CSK skipper MS Dhoni's decision to promote him up the order
First Cricket News

IPL 2020: Sam Curran surprised by 'genius' CSK skipper MS Dhoni's decision to promote him up the order

After an economical spell with the ball, Sam Curran scored a quick-fire 18 off just six balls to help his side start the campaign on a positive note.

IPL 2020: RCB's Adam Zampa looking forward to partner Yuzvendra Chahal, hopes to master death bowling skill
First Cricket News

IPL 2020: RCB's Adam Zampa looking forward to partner Yuzvendra Chahal, hopes to master death bowling skill

Zampa and Chahal are both wrist spinners but the Australian is eager to pick the brain of his IPL teammate when it comes to death bowling.

IPL 2020: Rajasthan Royals' Jos Buttler to miss opener due to extended quarantine after travelling with family
First Cricket News

IPL 2020: Rajasthan Royals' Jos Buttler to miss opener due to extended quarantine after travelling with family

21 England and Australia players arrived here early this week after battling it out in the limited-overs series in the UK which concluded on 16 September.