Patanjali Wants To Sponsor IPL 2020 By Paying Rs 440 Crore For 1 Year; These Other Brands Also In Race
As per fresh reports coming in, Baba Ramdev led Patanjali wants to sponsor IPL 2020, by paying Rs 440 crore for title sponsorship, for one year.
Since Vivo decided to quit being title sponsors this year for IPL, several big name brands like Byju’s, Jio and Patanjali are in fray to become title sponsors.
Patanjali Can Sponsor IPL This Year?
Patanjali has confirmed that they are in talks with BCCI for sponsoring IPL 2020.
Patanjali spokesperson SK Tijarawala said,“We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform,”
Now, it would be really interesting to observe if BCCI accepts Patanjali as their title sponsors this year, because as per branding experts, IPL will not gain from this partnership, as per branding perspective.
But this can be a huge boost for Patanjali since they are in rough waters over their fake claim of launching coronavirus cure. Madras High Court has already fined them Rs 10 lakh recently.
Brand strategist Harish Bijoor said, “Patanjali as a title sponsor for IPL will do more for Patanjali than for IPL. While the caste hierarchy among brands could play out, Patanjali owning the title sponsorship would be contextual from a nationalist perspective, since there is an enormous anti-China sentiment prevailing in the country,”
How Much Can Patanjali Pay For IPL 2020 Sponsorship?
Vivo had signed a 5-year contract with BCCI for sponsoring IPL, at Rs 440 crore per year.
In case Patanjali is roped in as title sponsors, then they can pay the same amount for one year, since Vivo will make a comeback next year.
However, as per some reports, BCCI is ready to offer upto 50% discount to attract more potential brands as sponsors.
If we believe reports, then brands like Tata, Dream11, Reliance, Byju’s, Adani and more are interested to become IPL 2020 sponsors.
More details are awaited.