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Last Updated : Aug 06, 2020 03:51 PM IST | Source: Moneycontrol.com

Coca-Cola India, Byju's may bid for IPL title sponsorship: Report

The BCCI is reportedly planning to invite fresh bids for title sponsorship after Chinese smartphone maker Vivo's exit as the main sponsor.

Beverage giant Coca-Cola India and education technology company Byju's may join the race for the title sponsorship of the Indian Premier League (IPL) 2020.

The Board of Control for Cricket in India (BCCI) is planning to invite fresh bids for the tournament's title sponsorship after Chinese smartphone maker Vivo's exit as the main sponsor, according to a Mint report.

Also read: IPL 2020 | Vivo’s exit could see Star India take a Rs 250 crore hit; other Chinese brands may choose to lie low

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Moneycontrol could not independently verify the story.

"We continue to stay invested in cricket and (are) observing how the situation evolves. We are awaiting more details before taking a decision," Coca-Cola India told Mint.

Byju's declined to comment when contacted by Mint. The startup has set aside Rs 300 crore for the sponsorship bid, a source told the publication.

A source in the BCCI told Moneycontrol that Vivo had dropped out sponsorship for this year's edition of the IPL. Vivo was slated to pay Rs 440 crore as a part of the sponsorship agreement.

Vivo's decision might have likely been triggered by informal calls to boycott Chinese products after rising border tensions along the Line of Actual Control (LAC).
First Published on Aug 6, 2020 08:44 am
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