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%.
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:
#PatanjaliIPL please tell me its a joke
— Jamie Alter (@alter_jamie) August 10, 2020
*Patanjali to consider for #IPL2020 title sponsorship*
Cheerleaders will do
— Rachit Gupta (@Im_RachitGupta) August 10, 2020
Patanjali to Bid for IPL sponsorship…
Can't wait to see MSD getting "Dantkanti Player Of The Match Award…🏏😍😂
— Bibhu (@Bibhu237) August 10, 2020
IPL 2020 will be called as #PatanjaliIPL
Baba ramdev : pic.twitter.com/zd1736X0pP
— Deeksha Jain 🇮🇳 (@hungry_heart68) August 10, 2020
Baba ramdev be like : pic.twitter.com/gwOKlFhBo3
— Muskurahat 🌸💚 (@__Muskurahat__) August 10, 2020
I am all for Patanjali sponsoring IPL. I'll do Sirsasana and finally see RCB at the top of the table.#PatanjaliIPL
— Ramesh Srivats (@rameshsrivats) August 10, 2020
— HARSH 🇮🇳 (@Har__Mi) August 10, 2020
After Seeing #PatanjaliIPL Trending…
My Reaction – pic.twitter.com/O5p0LgWgIi
— Jethiyaa (@Lal_Jethiya) August 10, 2020
Meanwhile foreigner players -: pic.twitter.com/bsXBruqDkB
— Rare_Legend ☄️ (@memer_hu__bc) August 10, 2020
Meanwhile Ambani’s Jio who has shares in every team and trying to be a sponsor as well:- pic.twitter.com/S8IArAhefc
— Ishika Bhardwaj (@ishika_bharad) August 10, 2020
Le PATANJALI Ball, Bat and stumps for IPL : pic.twitter.com/1Y8X4bIZTo
— Pᴀᴛʜᴇʏ ☕ (@paa_they) August 10, 2020
— Manas Singh🇮🇳 (@ManasSi64910205) August 10, 2020
— Punatomy (@punatomy) August 10, 2020