XtraTime Web Desk: There is a new twist in the IPL 2020 title sponsorship race as another strong company has made a bid for the sponsorship. The renowned company has never been in the cricketing arena, but now they are trying their luck here as well.
Being a trusted Indian brand and having high value in the market, Tata are the front runners to get the sponsorship among the speculated candidates, as per sources. But the Board of Control for Cricket in India (BCCI) would officially announce the name of title sponsors on 18th of August.
The other organisations that are in the race are e-learning app BYJU’s, Unacademy, gaming app Dream 11 and Amazon.
Earlier, it was also reported that BCCI has decided to get two additional partners at an average commitment of Rs 40 crore to raise the revenue bar after Vivo had exited from this year’s IPL title sponsorship.
The Chinese company Vivo company suspended this year’s deal with BCCI after the tension flared up between India and China at the Line of Actual Control (LAC) which caused the death of at least 20 Indian soldiers. Subsequently, India had banned a number of Chinese applications in India, including the popular Tiktok.
Amid all this, fans had also claimed to boycott IPL because of the Chinese sponsorship. Then Vivo decided to take down the sponsorship of the 13th edition of the league.
Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a whopping sum of Rs 2190 crore, approximately Rs 440 crore per annum. The title sponsors play a huge role in generating revenues, half of which is shared equally by the eight.
The BCCI is planning to generate approx INR 300 crore to lessen the deficit caused by Vivo exit. So, it is a challenging task for the board to get a sponsor to par with the Chinese company in such a short period.