The title sponsorship for the 13th Indian Premier League (IPL), scheduled to begin on September 19 in the United Arab Emirates is expected to go to Tata Sons according to recent developments.
The Board of Control for Cricket in India (BCCI) had called for the submission of Expression of Interest (EoIs) for the same on August 10 and the deadline was set to be 5 pm today. Only 5 companies are reported to have submitted the same with Tata Sons being the most favored.
The decision to call for EoIs came after the exit of Vivo as the title sponsor in the wake of anti-Chinese sentiment.
BCCI had earlier mentioned that the sponsorship might not just depend on the highest bidder but other factors as well. According to sources, Tata sons is the most likely candidate due to their high credibility and the willingness to pay in the range of 42-45 crores for the sponsorship. Tata Groups is also known for supporting Indian sports with Tata Motors being one of the central sponsors of IPL already.
Vivo after acquiring the title rights till 2022 had agreed to pay the board Rs. 2,190 crore, i.e about Rs.440 crore per season. After Vivo’s exit, it was speculated that the bid amount would be in the range of Rs. 250-300 crore but BCCI may have to settle only for 15% loss for this year’s title sponsorship amount according to Moneycontrol.
India cricket jersey sponsor Byju’s, Reliance Jio, Patanjali, and Unacademy are the other frontrunners who have submitted the bid. The final announcement will be made on August 18.
