Preparations for IPL 2020 were in full swing and BCCI is left with one of its biggest challenges. In a major setback IPL’s title sponsor VIVO pulled out of the coming edition on August 4.
The move came at a time when the world is battling the coronavirus pandemic and it would be a major challenge for BCCI to find a new title sponsor.
VIVO had signed the deal in 2017 and was paying Rs 440 annually as the title sponsor of the lucrative tournament.
The IPL is played in the UAE from September 19 to November 10. At short notice, it is almost impossible to find other sponsors who would promise that amount from one year.
There was a huge outrage in different parts of the country ever since 20 Indian soldiers were killed in the violent clash between India and China in the Galwan valley recently. Following the incident the Indian government banned 59 Chinese apps in India.
Once the IPL dates were confirmed, the focus shifted to the tournament’s title sponsor, the Chinese mobile giant VIVO.
According to reports, the Chinese company took the decision to avoid bad publicity.
Apart from VIVO, IPL has seen Chinese smartphones brands, Oppo, Xiaomi, Realme and OnePlus taking up prime slots. They spend nearly Rs 500 crore annually.
Interestingly, Duff & Phelps in 2019 had valued the IPL ecosystem at Rs 47,500 crore.
It has been reported that Vivo might return as the title sponsor in 2021 and the deal might be continued till 2023. At the moment, the biggest challenge for the Indian board is to find a new title sponsor with the 13th edition all set to kick off in UAE from September 18.
