Multinational conglomerate Tata Group has submitted its ‘Expression of Interest’ to be the title sponsors for IPL 2020 in the UAE. Tata joins education technology company Unacademy and fantasy sports platform Dream11 in a bid to replace VIVO for one season.
In the wake of VIVO’s pullout, BCCI had invited tenders for title sponsorship for one season. They had included one condition stating that the turnover has to be in excess of 300 crores to join the bid. Friday was the last day for submitting the bid for the 13th edition of IPL which will commence from September 19.
Tata joins race for IPL 2020 title sponsorship
Meanwhile, Tata Group’s entry into the bidding war makes spice up things on August 18. BCCI is expecting that the winning bid will not be much lower than Vivo’s Rs 440 crore annual contract even though the rights period is of short duration.
“Yes, Tata Group has submitted their Expression of Interest to buy IPL title rights,” a group spokesperson told PTI.
Meanwhile, earlier Unacademy and Dream11 have also submitted their Expression of Interest to be IPL 2020’s title sponsors. The BCCI official also added that the final bid will be sent to the concerned department on August 18.
“The EOI doesn’t have to mention the bid amount. It will be sent on August 18,” the official said. “Post the delivery of the EOI, BCCI shall inform the rights, product categories and entitlements to the interested third parties. The final bid should be sent to email@example.com between 11 am to 1 pm on August 18, 2020,” the BCCI has already stated.
Meanwhile, reports also suggest that Jio and Patanjali have also joined the fray to be the title sponsors for IPL 2020. Also, the board has clearly mentioned that the highest bidder might not get sponsorship rights.
Incidentally, VIVO pulled themselves out of the deal for this year after facing severe backlash on social media. This comes in the aftermath of India-China clash on the border at Ladakh’s Galwan Valley.