The BCCI on Wednesday confirmed that the online education giant Unacademy and Cred have filled the bidding forms for the Title sponsorship this season.
Unacademy is already one of the sponsors of the IPL and it is now eyeing the tournament’s title sponsorship rights for the forthcoming season in September.
One of the BCCI officials said that Unacademy has taken the bidding papers but refrained from telling more about the developments.
“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,” the official said.
VIVO was paying the BCCI a sum of Rs. 440 Crores every year in a five-year deal till 2022. The total contract summed to Rs. 2200 crores, but the recent border clash between India and China fumed the Indian public, leading to the departure of the Chinese mobile manufacturer as the title sponsor.
The BCCI also announced that it is even ready to even partake 50% of what VIVO was paying every year. But they also issued that the company applying for the sponsorship shall have a minimum turnover of Rs.300 crores.
Like Paytm and Dream11, the Unacademy is also one of the central sponsors of the IPL till 2023 season.
“Yes, Unacademy is already in IPL’s central sponsors’ pool from 2020 to 2023,” the BCCI official said.
But till now, no Unacademy official has spoken on the sponsorship talks, but one of the industry insiders confirmed that the company is looking to take a big plunge in order to expand its market dimensions.
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