In a recent turn of events, BCCI confirmed the withdrawal of title sponsorship by VIVO from the Indian Premier League (IPL) 2020. “The BCCI and Vivo Mobile India Pvt Ltd have decided to suspend their partnership for the Indian Premier League in 2020.” a statement released by BCCI.
Recently, India and China have been experiencing disturbing cross border relationship that has resulted in an anti-chinese sentiment within the nation and there is the possibility of this being a strong reason behind the decision by the mobile making company. Many other Chinese brands like Real Me, OPPO, Xiaomi, Huawei, Lenovo are staying at bay from the IPL 2020.
VIVO had attained the title sponsorship for two years earlier in 2015 and was able to retain the rights and signed another five-year deal (2017-2022) at a cost of USD 341 million. The remaining two year status it is yet to be clarified by the BCCI.
The major change, however, is less likely to affect the franchises financially as each receives approximately Rs. 20 crore (approximately USD 2.67 million) every year from the VIVO deal. BCCI is in the lookout for a replacement for VIVO.