Baba Ramdev’s Patanjali Ready To Bid For IPL Title Sponsorship

Baba Ramdev’s Patanjali Ayurved is considering to bid for the title sponsorship of the upcoming Indian Premier League…
Baba Ramdev's Patanjali Ready To Bid For IPL Title Sponsorship

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.

“We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform,” Patanjali spokesperson SK Tijarawala said as per a report by Media.

Patanjali is considering making a proposal to the Board of Control for Cricket in India (BCCI), 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 August 14.

Last week, BCCI and Vivo decided to suspend their partnership for the 2020 IPL beginning on September 19, 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 ₹2,190 crore, approximately ₹440 crore per annum.

Patanjali Ayurved had reported a revenue of ₹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. 

Total
0
Shares
Related Posts