"The magnitude of being in a position to bring the IPL to the vast cricket-loving global community, during current events which have greatly impacted our daily lives, is one we take with extreme importance", Sheikh Nahayan Mabarak Al Nahayan, Cabinet Member and Minister of Tolerance and Coexistence and Chairman of the Emirates Cricket Board said in an official statement.
However, the development of Ayurveda giants Patanjali throwing their hat in the ring for the IPL title sponsorship proved to be a meme-fest on social media. "I can confirm that Unacademy has shown interest and picked the bid papers".
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. "So Patanjali if they bid, will have competition", a senior BCCI official told PTI. The BCCI is now looking at a lesser value between rupees 300 crore to rupees 350 crore.
Also, it is worth noting that Unacademy is part of IPL's central sponsorship, just like other brands such as Dream11 and Paytm.
The official explained that the central sponsorship would not have included jersey rights. Also, title sponsors get exclusive marketing opportunities. The title sponsorship is a big part of IPL's commercial revenue, half of which is shared equally by the franchises.
"Unlike some of the other Edu-Tech apps, Unacademy has 100 per cent Indian investment".
The BCCI has got the government green signal too to host the IPL in the UAE keeping in mind the COVID-19 situation in India.
BCCI is desperately seeking a title sponsor for IPL after Vivo quit in the wake of the anti-China wave after the Galwan standoff in Ladakh between Indian and Chinese armies.