P for Patanjali! IPL might get new bidder as Vivo drops out

Yoga guru Baba Ramdev's Patanjali is considering bidding for the title sponsorship of the Indian Premier League (IPL). The title sponsorship was held by Chinese smartphone maker Vivo that dropped out of the IPL in the aftermath of the anti-China push.

A Patanjali spokesperson said that the company is considering the sponsorship as it aims to push the brand globally. "We are considering the IPL title sponsorship for this year, since we want to give the Patanjali brand a global marketing platform," Patanjali spokesperson SK Tijarawala told The Economic Times. The company is mulling sending the proposal to the Board of Control for Cricket in India (BCCI).

The cricket board is still looking for a new sponsor after Vivo's exit. As per reports, Tata group, Adani group, Reliance Jio, Amazon, Byju's are some of the potential candidates in the fray.

While stadiums would remain empty, IPL is still a lucrative option as it remains a high-visibility property. Industry experts also believe that the IPL could boost the advertising industry.

As per the daily, BCCI has offered discounts of up to 50 per cent for potential title rights holders. BCCI might issue an expression of intent for title rights instead of floating a full tender process.

Patanjali Ayurveda has been losing ground in large categories such as noodles and biscuits over the past couple of years due to trade disruptions as well as alleged inconsistent quality. It recently made headlines when it launched a coronavirus treatment kit called Coronil. AYUSH ministry subsequently allowed sale of the kit only as an immunity booster and not as a cure for COVID-19.

Meanwhile. Vivo that had struck a deal with the BCCI for Rs 440 crore per year for a five-year sponsorship deal in 2018 backed out as the main sponsor for the tournament. After the border clash with China, Chinese companies have been receiving the heat amid boycott calls.

Also read: After quitting as IPL 2020 title sponsor, Vivo pulls out of Bigg Boss and Pro Kabaddi League

Also read: IPL franchises stare at Rs 30 crore revenue loss due to Vivo-BCCI fall out