Last week, Vivo backed out as Indian Premier League (IPL) 2020’s title sponsor, primarily due to the anti-China sentiments prevalent in the country. Vivo’s unexpected move created a space in which several companies are attempting to fit in, including Patanjali Ayurved. According to a new PTI report, ed-tech startup Unacademy is also bidding to fill the gap.
“I can confirm that Unacademy has shown interest and picked the bid papers. I have heard they will be submitting a bid and are pretty serious. So Patanjali if they bid, will have competition,” a senior BCCI official told PTI.
In case you’re out of the loop, BCCI invited brands to express their interest in acquiring the title sponsorship rights for IPL 2020 earlier this week. The last date to express interest is tomorrow (August 14). The deadline for submitting the final bid is August 18.
While Vivo initially paid 440 crores annually as part of its deal, BCCI now evaluates title sponsorship rights somewhere between Rs 300 to 350 crores. This is for a period of four months and 13 days. IPL 2020 will take place in the UAE from September 19 to November 10.
“Unlike some of the other Edu-Tech apps, Unacademy has 100 percent Indian investment. And four and half months is the perfect time to get associated with a brand like IPL and broaden their horizons in terms of brand outreach,” said one source close to the development.
Also, it is worth noting that Unacademy is part of IPL’s central sponsorship, just like other brands such as Dream11 and Paytm. What differentiates central sponsorship from title sponsorship is that the former doesn’t include jersey rights. Also, title sponsors get exclusive marketing opportunities.