IPL Title Rights Holders Vivo have Pulled Out of 2020 Tournament | 2YODOINDIA
IPL title rights holders Vivo have pull out of this year’s tournament.
The development follows a public outcry over the tournament’s association with Vivo, a Chinese company,
Following clashes at the India-China border in June.
BCCI & Vivo were not available for comment on the issue.
The BCCI had said it would “review” the sponsorship deals concerning the IPL, but did not name any brand.
BCCI said in a tweet posted on June 19.
“Taking note of the border skirmish that resulted in the martyrdom of our brave jawans,
The IPL Governing Council has convened a meeting next week to review IPL’s various sponsorship deals,”
According to Sources Vivo would return as IPL’s title sponsor for the 2022 and 2023 editions.
BCCI will issue a tender in the coming days to find a title sponsor for the 2020 IPL season.
Two days ago,
The BCCI’s formal announcement sign by secretary Jay Shah of the IPL being play in the UAE between September 15 and November 10 mention Vivo as the title sponsor.
The decision is not likely to significantly affect the franchises financially.
It is understood each franchise gets approximately Rs 20 crore per year from the Vivo contract.
As far they are concerned, as long as the BCCI can rope in a replacement for Vivo,
This development will not have any impact on them.
Vivo had bag the title sponsorship for two years initially in 2015, and retained the rights signing a five-year contract (2017-22),
Paying about USD 341 million.