Srinagar, Aug 4: Facing huge backlash in the backdrop of deteriorating India-China relations the IPL title rights holders Vivo are likely to pull out of this year’s tournament, ESPNcricinfo reported.
Neither the BCCI nor Vivo were available for comment on the issue, a report said.
In June, the BCCI had said it would “review” the sponsorship deals concerning the IPL, but did not name any brand.
“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,” BCCI said in a tweet posted on June 19.
Two days ago, the BCCI’s formal announcement – signed by secretary Jay Shah – of the IPL being played in the UAE between September 15 and November 10 mentioned Vivo as the title sponsor.
The decision is not likely to significantly affect the franchises financially.
ESPNcricinfo further reported thta it spoke with several franchises, each of whom said that while the IPL was yet to inform them of the development, they were not fussed at the news. 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 bagged 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.