Tata to be IPL title sponsor in 2020
TataGroup is leading the race to bag the title sponsorship of the Indian Premier League 2020, a month before Tata IPL 2020 scheduled start in the UAE.
The Tata group has submitted ‘Expression of Interest’ (EOI) to become the title sponsor of the Indian Premier League this year, while education technology company ‘Unacademy’ and fantasy sports platform ‘Dream 11’ also bid to replace Chinese mobile phone company Vivo this year.
Apart from tata, Bijuj, Dream XI, Reliance Jio and Unacademy are also in the race. Pantanjali Ayurveda (Patanajli) has distanced itself from this process.
This time it will be different in the title sponsorship that it is not necessary that only the highest bidder gets the right for the title sponsorship.
The BCCI has made it clear that it will also consider several other aspects. The board does not want to take any risk after the controversy over Vivo being a Chinese company.
The biggest concern of the board is that Vivo pays Rs 440 crore for a year. But considering the economic condition of the market due to short time and Kovid-19, experts believe that the board cannot get such amount.
However, it is believed that the board may be able to raise more than the market estimates.
The favourites for ipl 2020 sponsorship as of now:
- Tata Sons