Ever since VIVO and BCCI suspended this year’s sponsorship, there have been innumerable speculations on who will be the next title sponsor of the IPL this year.
The BCCI has also allowed applications for the new new Indian companies who could financially power the cash-rich league to be held in the UAE.
In the recent development, Indian Ayurved company Patanjali, which is co-owned by Baba Ramdev has shown keen interest in title sponsorship. In fact, the FMCG has also submitted a proposal for replacing the furloughed Chinese manufacturer.
SK Tijarwala, the spokesperson of the Patanjali said the FMCG company felt acquiring the opportunity of getting the sponsorship. The sponsorship would undoubtedly expand the market of the company, however, he also said that nothing is “finalised yet”
The BCCI also issued an Expression of Interest (EOI) on Monday, citing that any interested company that expresses the desire to get the sponsorship shall have a minimum turnover of Rs.300 crores annually.
The EOI also said that the BCCI is also ready to agree to a contract giving them as low as 50% of what the VIVO was paying per year. VIVO was paying the BCCI RS.450 crores per year in a five year deal until 2022, summing up top Rs. 2200 crores.
Patanjali also found the backing of the Haridwar Cricket official Inder Mohan Barthwal as he said, “If Patanjali sponsors IPL, we do hope cricket infrastructure and the game as a whole in Uttarakhand will also get a boost,”
The BCCI is yet to decide the final sponsors as the TATA Group has also joined the race of Title sponsorship. Earlier, the Tata Group had offered to create the bio-secure bubble for the IPL which is scheduled to begin from September 19.