Hyderabad: Smartphone manufacturer Vivo has parted away from BCCI as the title sponsor of Indian Premier League (IPL) after criticism ripped apart the Indian board for not cutting the ties with Chinese sponsors in the backdrop of rising border tension with China. Multiple media reports confirmed the new development in Indian cricket which came as a major financial setback to the BCCI. The rescheduled IPL 2020 is just a month away from the kick-off in the United Arab Emirates.
The interesting thing in the current development is that the mobile maker, Vivo's decision came after the Indian board said that it would retain its ties with the Chinese company. However, BCCI and Vovo spokespersons declined to comment on the matter.
Vivo still has a three-year of sponsorship deal worth Rs 1,320 crores left with the BCCI, and it is likely to the come back as the title sponsor for the T20 tournament from 2021 to 2023.
The border skirmish between the Indian Army and PLA left 20 Indian soldiers dead in June. Ever since that development, there was a serious resentment built up across the country against Chinese companies. Among the many Indian sports, cricket has the biggest sponsorship deals with Chinese companies. Apart from the sponsorship deal, Chinse companies spend huge sums on advertisements during the IPL; and domestic and international cricket fixtures in India.
Earlier on Monday, the trader association Confederation of All India Traders (CAIT) wrote to the Indian government urging the Home Minister Amit Shah and Foreign Ministry S Jaishankar to ensure BCCI doesn't host IPL with Chinese companies as sponsors.
Vivo had been paying Rs 440 crores annually to BCCI as part of a five-year title sponsorship deal since 2018. Apart from sponsorship, Vivo also spent heavily on television advertisements that are estimated to be around Rs 150 crores during the T20 tournament.
IPL 2020 is scheduled to start from September 19 with the final on November 10.
