Vivo might have dealt a huge blow to BCCI ahead of this year’s IPL by withdrawing as the title sponsors but there seems to be no dearth of interested suitors for the Indian cricket board. Earlier this week, Vivo pulled out as IPL title sponsors despite Indian Premier League Governing Council (GC) announcing that it had retained all of its sponsors including Vivo for IPL 2020.
Vivo’s decision came just two days after the IPL GC announced their decision on the sponsors. The Chinese mobile manufacturing company was in the middle of a social-media storm after IPL GC’s decision. The BCCI and the IPL GC faced criticism for deciding to not cut ties with the Chinese company. There was a nationwide call to boycott Chinese products after the deadly clashes between the Indian and Chinese troops in eastern Ladakh in June.
Potential news sponsors for IPL 2020:
At the moment, BCCI is searching for title sponsors and the Indian cricket board does not have too much time in its hands. The thirteenth edition of the league is set to get underway on September 19 with the final scheduled to take place on November 10. Thus, the BCCI has just around a month time to find the new title sponsors and it looks like world’s richest cricket board would not have much problem in finding the new sponsors.
According to Live Mint, Coca-Cola India and Byju’s are reportedly among companies that may bid for the title sponsorship. The sponsor will likely sign a deal for just this year as VIVO, which had agreed to pay ₹440 crore a year for the five-year sponsorship deal, may return as the main sponsor next year. Several firms, including Byju’s and Coca-Cola, are eyeing the opportunity to sponsor India’s most-watched sports event.
Online education startup Byju’s, which is also the sponsor for the Indian cricket team, is currently in talks with BCCI for the title sponsorship for IPL 2020. The report stated that the startup, which recently secured funding worth $500 million from multiple investors, has set aside ₹300 crore for the sponsorship deal. Coca-Cola India is also evaluating its plans to sponsor the IPL.
“We continue to stay invested in cricket and (are) observing how the situation evolves. We are awaiting more details before taking a decision,” the company said in an emailed reply according to the news outlet.
The report further quoted a top media buyers as saying that BCCI may not be able to command a similar amount that Vivo was paying, owing to challenging market conditions. However, the board might attract e-commerce platforms as IPL 2020 is coinciding with the festive season.
“With deep pockets, e-commerce firms such as Amazon are likely to be in the running to clinch the title sponsorship. It would be an opportune time for online firms to be visible and advertise as they also make a splash for flagship sales in October,” a senior media buyer told the news outlet.