Another contender was added to the battle for IPL 2020 title sponsorship. The holding company of Tata Group, Tata Sons Limited has officially submitted an expression of interest (EOI).

“We confirm we have submitted an EoI,” a spokesperson for Tata Sons said.

After Vivo’s exit as the official title sponsor for this year, BCCI had invited firms to submit EoIs for the title sponsorship of IPL 2020. Vivo could have exited due to the current anti-China sentiments in India after Galwan valley clash. The competition begins in UAE on 19th September. BCCI had set the last date for the submission of EOI as 14th August.

The other contenders are Reliance Jio, Patanjali, and edutech platforms Byjus and Unacademy. The bid was open to firms with an annual revenue of over Rs 300 crore. BCCI had declared there would be a discount on the bidding price which could be 40-60% lower than Vivo’s deal.

EOI submission doesn’t mean that the company will get to bid for the title sponsorship. BCCI had also declared in the invitation for EOI that the highest bidder wouldn’t necessarily get the rights.

“BCCI shall not be obliged to award the rights to the third party which indicates willingness to pay the highest fees in the course of discussions/negotiations with BCCI after submitting an EOI. BCCI’s decision in this regard will also depend on a number of other relevant factors, including but not limited to, the manner in which the third party intends to exploit the rights and the potential impact of the same on brand IPL.”

Byjus and Unacademy have money to spend after the boom of online education sector during the lockdown. The edtech industry has seen various startups cracking great investment deals.

THE FAVORITE?

Tata Sons is most likely to get the sponsorship deal being the biggest homegrown brand. It has good competition from Reliance Jio but they are unlikely to submit a very high bid. Unacademy has a good chance too and it will be interesting to see if they match Tata Group’s bid. Patanjali is unlikely to compete with Tata Sons.

The result for the IPL 2020 title sponsorship will most likely be announced on 18th August.

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