Baba Ramdev’s Patanjali has been in news as a potential bidder for the Indian Premier League 2020 title sponsor.
Patanjali spokesperson SK Tijarawala had also confirmed to media that the brand was keen to grab the opportunity created following Vivo’s.
However, the Ayurveda and FMCG brand has shown no real intent on the ground to join the bid process. According to a market expert, Patanjali has not even reached out to the Board of Control for Cricket in India as of now.
The expert dismissed the Patanjali’s interest “as a gimmick to grab media attention”.
The BCCI on Monday has initiated the tender process to find the title sponsor for the IPL 2020. Interested bidders will have to submit their bids by August 14 and the winning brand will be confirmed on August 18.
Patanjali in the past had acquired the Pro Wrestling League title for several years. But the value of that deal has been only a few crore rupees. The IPL bid title will cross over 100 times more than the wrestling league.
Though Patanjali has been among the leading marketing spenders in the country, the market is not ready to buy the idea of Patanjali investing up to ₹ 250 crores or more on a single property for a span of a little over three months.
Bid or no-bid, the mere speculation has put the Bara Ramdev-owned brand in news headlines for several days.