The run for IPL Title Sponsorship
Updated: Sep 2, 2020
The race for winning the IPL title sponsorship has heated up with Vivo pulling out as title sponsor on account of the prevailing anti-China sentiment. The UAE edition of IPL will be held from September 19 to November 8, 2020. Five companies, including the Tata group, Patanjali, Reliance Jio, edtech platforms like Byju’s and Unacademy, have submitted an expression of interest (EOI) for the same. Popular gaming platform Dream11 is also said to be in the race. A discount of 30 to 40% is being provided on the original price of Rs 440 crores, given the market conditions this year. Any company with a turnover of at least 300 crores is eligible to apply for the same.
The Indian Premier League (IPL) is the most attended cricket league on Earth and ranks sixth among sports leagues. The IPL title sponsorship is a great means for companies to expand their global presence. The tournament is broadcast in more than 30 countries. Also, since it is one of the few sporting competitions being held this year, it will have high viewer interest. Getting the title sponsorship means that the company’s name will be displayed on all branding materials like stadium tickets, billboards, umpire’s jerseys, merchandise, etc. The league’s title itself will be rebranded to include the name of the sponsor.
The board will be announcing the title sponsor by August 18, 2020, after reviewing the market potential and bidding amounts. If Chinese investment becomes a major deciding factor, then Unacademy has a greater chance, unlike Byju’s and Dream11, which have Chinese investors.