Business News: Baba Ramdev’s Patanjali Ayurved is considering for bidding for the IPL Title sponsorship 2020 following the sudden exit of Chinese Smartphone maker VIVO as Title Sponsorship, according to a report by Economic Times.
“We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform” Patanjali spokesperson S K Tijarawala told the publication.
According to the report, names of several Big Companies like Jio, Amazon, Tata Group and Adani have been considering as potential candidates for the IPL Title sponsorship, which is expected to draw in big advertising numbers despite playing outside India owing to the Covid-19 pandemic.
VIVO initially had a 5 Year Title Sponsorship contract with IPL for which the Chinese smartphone manufacturing company had paid around 2190cr which is approximately around 440cr per year.
Due to an intense call to boycott Chinese products and strained Sino-India relations after the clash in Galwan Valley in East Ladakh, VIVO had to make the sudden exit from their Contract.
Source: Economic Times