Ayurveda-based FMCG product brand Patanjali have been considering exercising a bid for the title sponsorship for the upcoming Indian Premier League (IPL), as per statements from an official of the company.
If the move works out, it will help the Ayurveda-based company become flexible in nature by stretching out to a global marketing platform.
Affirming the development, Patanjali spokesperson S K Tijarawala said, “We are considering this. This is for Vocal For Local and making one Indian brand as global, this is the right platform. We are considering that perspective.”
“We have to take a final decision, whether we would take it or not,” he added.
According to him, the Board of Control for Cricket in India (BCCI) is coming with the expression of interest on Monday and it has to submit its proposal by August 14.
Last week, BCCI and Vivo decided to suspend their partnership for the 2020 IPL beginning on September 19, in the UAE, amid clamour to boycott Chinese products in the wake of the Sino-India border stand-off.
The title sponsorship is a significant part of the IPL’s commercial revenue, half of which is shared equally by the franchises. Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per annum.