BCCI received a severe backlash on all fronts after they decided to retain Chinese company VIVO as their title sponsors. Incidentally, after the growing tension in the India-China border, there were calls from certain section to come out of the contract. In the wake of the backlash, BCCI had decided to cut off ties with VIVO for the 2020 season.
Meanwhile, the Chinese smartphone company Vivo acquired the title-sponsorship deal in 2018 for five years worth Rs 2199 crore. They committed to pay the league approximately Rs 440 crore every season. The Chinese mobile-manufacturer had replaced soft-drink giants PepsiCo to enter the title sponsorship.
VIVO not to continue as title sponsors for IPL 2020
BCCI had earlier stated that coming out of the deal will incur them a massive loss. But after pressure from several fronts, Vivo India is likely to opt-out of IPL at least for this year, a report in TOI suggests. And the negativity towards Vivo is helping make the decision easier for them as well.
A franchise took it upon themselves to inform the other seven franchises that VIVO is taking the exit doors at least for this season. Meanwhile, this has taken BCCI by surprises. They seemed irritated that the franchise didn’t find it important to inform the IPL Governing Council first.
“Was it not the franchise’s duty to consult with the BCCI first,” TOI quoted the official in the know-how of the developments.
TOI further reported that VIVO will walk away as the title sponsors after 48 hours of growing tensions. Meanwhile, BCCI will decide how to negotiate the exit clause of VIVO. The apex body; however, will have bigger problems at hand as they have to find a suitable sponsor considering the current market situation.
IPL will commence from September 19 in the UAE and will run until November 10. The evening matches will start from 7:30 as contrary to earlier seasons which commenced from 8:00 PM IST.