IPL 2020: Vivo pulls out as title sponsor, but will return next year
While the IPL Governing Council on Sunday had retained all the sponsors, including Chinese enterprise Vivo which annually pays Rs 440 crore (approximately) as part of a five-year deal lasting till 2022, there is a strong possibility that the company might part ways for a year and then come back in 2021.
A day after social media was abuzz with speculation of whether Chinese companies are going to sponsor IPL 2020 or not, Chinese mobile phone company Vivo is likely to pull out as the Indian Premier League's title sponsor for this year, reported PTI.
According to sources in the BCCI, Vivo is currently in talks with the BCCI for an "amicable separation" amid rising Sino-India diplomatic tensions, but are likely to come back as the title sponsor in 2021.
The one year pullout could be treated as a moratorium period and if the relations improve, BCCI may look at inking a fresh three-year deal with the company from 2021 to 2023 on revised terms. The IPL will be held in the UAE from September 19 to November 10 this year.
Did Vivo boycott BCCI or did BCCI boycott Vivo? Please clarify so that we know who to boycott now.— Akash Banerjee (@TheDeshBhakt) August 4, 2020
"Yes, the discussions are on between BCCI office-bearers (president Sourav Ganguly and secretary Jay Shah) with the representatives of the company. There is a possibility that Vivo will not be title sponsors for one year," a senior BCCI official told PTI.
According to sources, it was Vivo which decided to pull out this year after wanting to pay lesser than what it did earlier.
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
The clash, which led to the killing of 20 Indian soldiers, triggered public outrage and led to calls of boycotting Chinese companies and products.
While the IPL Governing Council on Sunday retained all the sponsors, including Vivo which annually pays Rs 440 crore (approximately) as part of a five-year deal lasting till 2022, there is a strong possibility that the company might part ways for a year.