After Vivo’s departure as title sponsor, a lot of names had been floating to become the new sponsors of the IPL 2020. Now, according to Livemint, Tata Sons is leading the race to become the title sponsors.
Others players in the race are Patanjali Ayurveda, besides e-learning platforms Byju’s and Unacademy and fantasy sports firm Dream11.
The report further suggests that the choice will be based not only on the bid, but also the impact it will have on the brand value of the tournament.
“Tata Group is a legacy firm with a diverse set of interests in various categories. Considering that all companies are willing to pay upwards of ₹200 crore, the best among equals would be Tata Sons, as it is a non-controversial brand. It has heritage, a squeaky clean image and size to its advantage," said Harish Bijoor, brand strategy specialist and founder, Harish Bijoor Consults Inc.
“Moreover, the 20-20 cricket league will gain a lot by Tata imagery. Between the two homegrown companies the legacy of Tata trumps Patanjali by a fairly large margin," Bijoor added.
While there were talks of Patanjali being in the race for IPL’s title sponsorship, Yoga guru Baba Ramdev has made it clear, that it will only happen when there are no other companies that step in.
“It is too early to talk about it as Patanjali will only come to the forefront (for IPL title sponsorship) if other Indian corporate houses don’t make any bid for the IPL title sponsorship,” Ramdev was quoted as saying at Patanjali Yogpeeth in Haridwar, reported by the Hindustan Times.