Coca-Cola, Byju’s likely to bid for title sponsors for IPL 2020 after Vivo’s exit

Beverage giant Coca-Cola India and education technology company Byju’s may join the race for the title sponsorship of the Indian Premier League (IPL) 2020.

Beverage giant Coca-Cola India and education technology company Byju’s may join the race for the title sponsorship of the Indian Premier League (IPL) 2020.

The Board of Control for Cricket in India (BCCI) is planning to invite fresh bids for the tournament’s title sponsorship after Chinese smartphone maker Vivo’s exit as the main sponsor. Vivo was supposed to pay Rs. 440 crore as part of the sponsorship agreement.

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“We continue to stay invested in cricket and (are) observing how the situation evolves. We are awaiting more details before taking a decision,” Coca-Cola India told the Mint.

Byju’s which has recently been in news for proposed investment in coding start-up WhiteHat Jr.; has set aside Rs 300 crore for the sponsorship bid, a source told Mint.

This year IPL 2020 is scheduled to happen in UAE amid the coronavirus induced lockdown in the country.