The Five Companies Are Tata group, Reliance Jio, Patanjali, And Edu Tech Platforms Byjus And Unacademy:
Following Vivo ‘s exit from the upcoming edition of IPL as title sponsors, the Indian cricket board received interest from at least five companies to step in for the UAE edition from September 19 to November 8.
Tata group, Reliance Jio, Patanjali and edu tech platforms Byjus and Unacademy have met the deadline of Friday to submit an Expression of Interest (EOI) application. It could not be confirmed independently, but it could also be in the running the leading fantasy gaming platform, Dream 11. A Tata spokesman stated that “Tata group expressed interest in the title rights of IPL.”
Industry analysts say all those who have shown interest are extremely unlikely to send bids on August 18, when the sponsors are revealed. “Tata is a serious player in the community. This will want to make the most of this unusual opportunity because IPL is scheduled in a festive season and sponsorship is only available for a year, and at a discount, “a source close to the creation said.
At the time of last week’s invitation to title sponsors, a BCCI official said “the discount may have cost as much as 30-40% of the R440 crore Vivo.”
Reliance Jio is now a sponsor of several franchises and a top advertiser during IPL, among other prospective sponsors. “They aren’t short of cash, but there’s no sign they will be actively bidding,” a senior executive in the industry said.
Byjus is now paying big bucks as the uniform sponsor for the Indian team. Whether it decides to join the IPL bandwagon too, it will have to take a call. Interestingly, on Friday it became public that it has fallen out as Kolkata Knight Riders’ main sponsor.
With the prevailing anti-China sentiment that led to Vivo stepping aside this season, BCCI may be a perfect match for an Indian firm. A provision in the invitation to the EOI also suggests that BCCI addresses broader issues.
“BCCI shall not be obliged to grant the rights to a third party which, after submitting an EOI, indicates willingness to pay the highest fees in discussions / negotiations with BCCI; In this regard, BCCI ‘s decision will also depend on a number of other relevant factors, including, but not limited to, how the third party intends to exploit the rights and the potential impact on the brand of IPL.
In last week’s invitation to BCCI for EOI, it said only companies with a minimum turnover of R300 crore will be eligible to bid for title sponsorship according to the latest audit. Patanjali and Unacademy are domestic companies that showed interest in the sponsorship of crickets. It remains to be seen if they would want to go all out to win the deal.
Apart from the title sponsorship, BCCI is also negotiating to fill in three affiliate partnership slots to try to compensate for some of the financial deficits due to Vivo ‘s departure. Altroz Tata is now an official member of the IPL. If Unacademy does not win the sponsorship for the title, it may enter as a new official partner too.
