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Online edutech company Unacademy has shown interest in bidding for the title sponsor of this year’s Indian Premier League.
Though the company has not yet expressed interest officially, Unacademy is among the potential bidders the BCCI (Board of Control for Cricket in India) is understood to have sent feelers.
Earlier, Patanjali Ayurved had also said that it may bid for the title sponsorship deal.
The final list of bidders will be known on August 14, the last date for submitting expressions of interest (EoI).
Unacademy did not respond to a query from BusinessLine, but agency reports suggest that the company has told the BCCI that it may throw in its hat in the ring.
The BCCI has invited EoIs for title sponsorship rights for this year’s IPL that is set to start on September 19. The EoIs have to be submitted by August 14 and the final bids by August 18. Last week, the BCCI and Vivo decided to suspend their partnership for IPL 2020. The title sponsorship is a big part of IPL’s commercial revenue, half of which is shared equally by the franchises.
Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for ₹2,190 crore, which works out to about ₹440 crore per annum. According to analysts, BCCI is unlikely to get anything close to that amount from the new sponsor.
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