• VIVO used to pay around Rs 440 crores per season to BCCI for the IPL title sponsorship.

  • But in this current financial situation due to the coronavirus pandemic, BCCI is willing to accept a cut of 50-60%.

Netizens come up with memes and jokes after Patanjali joins the IPL 2020 title sponsorship race
Patanjali to bid for IPL 2020 title sponsorship; Twitter reacts

The Board of Control for Cricket in India had signed a 5-year contract with the Chinese firm VIVO for the IPL title sponsorship in 2018. But owing to the sentiments in the country towards China, VIVO decided to withdraw from the contract for this year. The value of the five-year deal was a whopping Rs 2,199 crores.

Since VIVO has backed out of IPL 2020, the BCCI has been in search for a new sponsor. Companies like Jio, Coca-Cola and Amazon have been linked with the latest IPL 2020 contract.

Now, surprisingly, Baba Ramdev’s Patanjali Ayurved has come out in public and declared that they would bid for the IPL title sponsorship this year.

Patanjali sells a wide range of consumer goods like grocery products including biscuits, honey and noodles. According to CLSA and HSBC, Patanjali is the fastest growing FMCG company in India. It is valued at Rs 3,000 crores (equivalent to Rs 35 billion or US$490 million in 2019).

VIVO used to pay around Rs 440 crores per season to BCCI for the IPL title sponsorship. But in this current financial situation due to the coronavirus pandemic, BCCI is willing to accept a cut of 50-60%.

According to media reports, the BCCI will be issuing an Expression of Interest (EOI) on August 10 for the IPL 2020 title sponsorship. The deadline to submit bids by interested companies is August 18.

Meanwhile, the fans are in splits after knowing about Patanjali bidding for IPL sponsorship, and they have also started imagining things. Memes and jokes are flooded on social media with some taking a hilarious dig at the company’s various products.

IPL, over the years, have had different sponsors for ‘Man of the Match’ and other awards and the netizens have hilariously matched it with Patanjali products.

Here’s how Twitter reacted:

https://twitter.com/Bibhu237/status/1292717746359173125

https://twitter.com/__Muskurahat__/status/1292758301218766848

https://twitter.com/Lal_Jethiya/status/1292753997023997953

https://twitter.com/ishika_bharad/status/1292751398250061824

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