Patanjali Considers Bidding For IPL’20 Title Sponsorship
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IPL 2020 might be ‘Purna Swadeshi’ after VIVO’s exit as Baba Ramdev’s Patanjali Ayurved Limited considers the title sponsorship bid
Earlier, the IPL governor body had retained Vivo as the title sponsor for the 2020 edition. However, the decision triggered a massive backlash against the Indian #cricket board following the anti-China sentiment
Vivo had won the IPL title sponsorship rights for 5 yrs from 2018-22 for ₹2,190 Cr, approx ₹440 Cr per annum & hence may return as the title #sponsor in next year’s edition as its contract will end in 2023
If Patanjali finalizes a contract with Board of Control for Cricket in India (BCCI), it would help in accessing a global marketing platform, as Patanjali is focusing on #exports for its FMCG products
“This is for Vocal For Local & making one Indian brand as global, IPL is the right platform”, said a spokesperson from Patanjali
Jio & Amazon are said to be the other front runners for the title sponsorship of IPL 2020 edition, which will be played in the UAE
Haridwar based Patanjali group reported a #revenue of ₹8,329 Cr in FY 2018-19 & a 40% increase in profits in FY20
Given the huge revenues, do you think Patanjali will win the bet against telecom mammoth Jio, which currently is flowing with a rich cash reserve?
By: Radhika Bajoria
